Capital Gains Tax

The new capital gains tax measures that came into effect on 6 April 2008 will have far-reaching effects for many businesses, underlining the need for professional assistance in this complex area.

The new regime means that taper relief and indexation allowances that reduced the tax liability on business assets and shares held for more than two years, and on non-business assets held for longer periods, will cease.

All assets will instead be subject to a flat rate 18 per cent rate – although there will be a new “entrepreneurs’ relief” of ten per cent on lifetime gains of up to £1 million for businesses and certain share-holdings.

We can assess your situation in the light of these changes and advise you on the most appropriate way forward to minimise your capital gains tax liabilities.

To find about more about how we can help you, contact us on 01656 867167 or at tellmemore@clayshawthomas.com to arrange a free, no obligation first meeting.

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