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020 7734 2244 email@example.com
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Capital Gains Tax (CGT) is payable by individuals, trustees and 'personal representatives' (PRs). Companies pay corporation tax on their capital gains.
There are annual tax free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
For individuals net gains are added to 'total taxable income' to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income do not exceed the 'basic rate band'.
Gains which qualify for 'Investors' Relief' are charged at 10% for the first £10m of qualifying gains.
Gains which qualify for 'Business Asset Disposal Relief' are charged at 10% for the first £1 million.
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, higher rates of 18% and 28% may apply to the disposal of certain residential property.
Brebners is here to help and support you, by assisting you with the ongoing financial planning and control of your enterprise. In doing so, we can advise you on potential help available, including the measures announced by the government, and assist with applications. Please get in touch with your usual contact at Brebners who will be able to help you (enquiries can also be made to email@example.com).
Please click here for further COVID-19 information and guidance.
We also have specialist teams ready to help if your organisation struggles with disruptions to its own team make-up. These include payroll, bookkeeping (including experts in most cloud software packages) and accounts production specialists.
Brebners was prepared for the current situation and as such, in most cases, all the Brebners people with whom you ordinarily liaise are working remotely. They are available, as usual via email and phone.
We understand that this is a difficult time for all and our aim is to help minimise the impact on our clients whilst safeguarding the health of our staff, clients and contacts. To assist us in servicing you, we kindly request that should you be required to send us information that you do so electronically wherever possible, instead of via post. If you have any difficulty reaching a specific individual please email firstname.lastname@example.org