Capital Gains
Capital Gains Tax (CGT) is levied on an individual when an asset is sold
or transferred. The asset in question can be anything from a house to
an investment portfolio.
If you are looking to build up and then sell a business, with a view to
using the proceeds to fund your retirement, then CGT is an important
factor which must be considered.
Selling or transferring a business may make you liable to pay CGT on
your gains, including gains on your share of partnership assets. What is
more, the term 'assets' covers all forms of property, including shares,
machinery and the goodwill of a business.
Changes have recently been introduced to the way CGT is calculated
for such gains taxable after 5 April 2008. We can provide strong
accounting advice to business owners on how to derive maximum
benefit from the very latest developments.
Call Butterworth Jones Chartered Accountants for all Capital Gains Tax
help and advice.
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