We are now almost a week into the restart of possession claims after the stay was lifted and there are a number of new rules which have been brought in...
Capital Gains Tax
In general, Capital Gains Tax is payable on the disposal of a taxable asset which has increased in value since it was acquired.
A disposal could mean a sale or a gift. Acquired could mean purchased, or inherited, or received by way of gift. A taxable asset may be a shareholding, or a property which is not your main residence as a holiday home or a rental property.
We can help ensure that Capital Gains Tax is not paid unnecessarily, but early consideration of this issue is needed, preferably some time in advance of disposing of the asset. Please contact us for specific advice.