Farms & Estates
Planning to minimise capital gains tax on property disposals
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.
How can we help you?
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.
