Taking the stress of capital gains away
Capital gains is a tax on the profit when you dispose of an asset – which must have increased in value since you first invested in it. We can give you capital gains tax advice to help you structure how you receive this profit, as well as identifying any tax reliefs you may be applicable for.
The service
We are experienced
We are approachable
We are cost effective
Your questions answered
If I sell a second home, do I have to pay Capital Gains Tax?
Yes you do, but there may be options to reduce this substantially. See the next FAQ for more info.
Can I get any tax relief on a used commercial property?
You might be able to claim capital allowances on what is known as the “integral features” of the property. Generally, these are the hot and cold water systems and main wiring within the property. Other items are rarely seen in practice. This is a complex area and advice must be tailored to your situation.
If I buy a second home, is there anything I should do now with regard to future Capital Gains Tax plaget any rnning?
You have 2 years from the date of acquisition of a second home to nominate it is your principle private residence (PPR). Currently the last 9 months of your ownership of a property which you have lived in as your “PPR” are exempt from Capital Gains Tax. Lettings relief is all but gone now, with only periods where you co-…read more
Can I get tax relief on school fees?
Not directly. However, you could create a trust which would receive dividends. The dividend income would then be used to pay school fees. This type of planning is quite complicated and relies on you giving away some of your trading company to the trust. If you have grandchildren which you’d like to support in this way it m…read more
Can I claim expenses for working from home?
Yes, you can. The simplest method is to use the HMRC approved rate of £6 per week which is £312 per year. If you want to claim more than that, then you need to work out the actual proportion of your expenses which relate to business use. That means you must work out the proportion of your own home which is devoted to offic…read more
Deadlines don't have to be taxing
Our tax experts we can make sure all your tax returns are filled out and submitted in the most efficient way. Get in touch to find out more about our tax return services.