Whether you are selling property to a third-party buyer or looking to gift down a generation, we can assist you in planning to minimise the CGT on the transaction.
Property can range from a single field, a residential property, a commercial building, the farmhouse or the whole farm. Depending on the type of property, its previous use and how it is being disposed of, there are a number of factors to take into consideration when looking to minimise the CGT.
We can offer expert tax advice on the following areas:
- Consideration of available tax reliefs, including principle private residence relief, business asset disposal relief, gift relief and rollover relief.
- Structuring to improve the tax relief.
- Use of spouses to spread any CGT liability.
- Tax consequences of potential future increase in value.
- Use of a trust to gift assets to the next generation.
- Timing of the transaction to delay any CGT payable.
- Preparation of the relevant computations and reporting to HM Revenue and Customs.
Please do not hesitate to contact us to discuss how we can help you minimise CGT on property disposals.