Capital Gains Tax in Stalybridge, Cheshire & Greater Manchester
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Giving Great Advice On Tax & Other Issues
Capital gains tax applies when you sell or give away a chargeable asset that has gained in value.
This often applies to business assets, properties and investments such as second homes, and also personal possessions worth £6,000.
You are taxed on the value that the asset has increased, less certain reliefs & allowances, not on the overall value of the asset. If your asset has lost value during that period, you will not need to pay capital gains tax on it.
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There are examples of exemptions to capital gains tax, which includes transferring assets between a married couple and gifts to charity.
As with a lot of tax issues, it can be a complex procedure, which is why you need certified experts to give you a hand.
Longden & Co is here for people across Manchester, Stalybridge, Cheshire and beyond to advise you on reducing or delaying these kinds of payments. We also advise you of any schemes you can use to keep payments as minimal as possible.
Get in touch with any of our accountants to find out more.
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