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Capital Gains Tax is payable to the Inland Revenue when an individual or company sells or transfers an asset to someone else. You only have to pay Capital Gains Tax on disposing of an asset if you have made a chargeable gain. Typically, you make a gain if the asset is worth more than it was when you acquired it.
The rate of Capital Gains Tax depends on your circumstances. In general terms, you pay tax at whatever your highest rate of tax is. Crombies will assist in the complicated and detailed calculations required in order to conclude how much Capital Gains Tax is payable on a disposal. If you are shortly due to make a disposal of an asset which you think may attract capital gains patek philippe replica tax, please speak with us about how this tax may be mitigated.
For more information please contact Ian Cattell at Crombies or email: ianc@crom.co.uk
