The Government has announced the introduction of new permitted development (PD) rights in England to allow change of use from commercial, business and service uses (Class E) to a residential...
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.