Capital Gains Tax Planning

Whether passing on land or buildings to the next generation, putting it in trust or selling to a third party, there are often significant Capital Gains Tax consequences.

Not only do we have an extensive knowledge of the tax legislation relating to such transactions, we also have experience of dealing with Land Agents, Property Surveyors, H M Revenue and Customs and the District Valuer. We understand the importance of approaching the valuation issues that may be involved with a transaction as well as planning the timing and other aspects of the transaction prior to the transaction being undertaken.

The issues to be considered prior to undertaking a disposal include:

• A gift of an asset such as land or buildings gives rise to a Capital Gain even if there are no disposal proceeds
• Availability of Holdover or Rollover Relief on the Capital gain on the disposal of agricultural land
• Availability of Entrepreneurs Relief on the Capital Gains Tax on the disposal of land
• Availability of Principal Private Residence Relief from Capital Gains Tax
• Market value of an asset that is gifted to the children, grandchildren or into trust
• Market value of land or buildings at acquisition if by gift or inheritance
• Value of a part disposal of an asset
• Whether the disposal of parts of an asset over time produces a lower Capital Gain than the disposal of the asset in one go
• The availability of the Capital Gains Tax Annual Exemption

Contact our team of experts to find out more about our Capital Gains Tax Planning service.

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