Capital Gains Tax

If you own anything of value and decide to sell it, you could be liable to Capital Gains Tax (CGT).

CGT is payable when an individual, trust or company sells or transfers or gifts property (tangible or intangible) to another entity. As a basic principle, CGT is charged on the difference between what you paid for an asset and what you receive when you sell it, less your annual CGT exemption if this has not been set against other gains.

However, it is possible that even in complicated scenarios and with careful planning you can reduce your CGT bill to zero.

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