Tax Information

The Financial Conduct Authority (FCA) does not regulate Inheritance Tax Planning

Here we aim to provide you with useful information on the important subject of capital gains tax to help you make informed financial decisions. This is just general information, so if you wish to discuss this kind of tax or any further matters in greater detail, contact us today and our team of financial advisers will offer all the help you need.

In basic terms, capital gains tax is a tax which investors must pay on the profits they make from selling an asset that has increased in value, unless their annual profits are below their tax-free allowance. For 2014/2015, investors are entitled to an annual capital gains tax allowance of £11,100 and trustees are entitled to £5,500.

If your investments have made significant unrealised profits and you haven’t yet used up your annual allowance, professional financial advice could be beneficial for you, helping you to understand how you can use your annual allowance or similar to its best advantage. For example, you may wish to consider reinvesting in a similar holding, or into an ISA, subject to its limits. Our team of independent advisers can help you to decide which course of action would be the best choice for you.

When it comes to transferring assets between spouses or civil partners before encashment takes place, great care needs to be taken so that each partner can use an annual allowance. We can assist you with this.

It is very important to consider whether any of your investments have made a loss and whether your excess gains may be cancelled out by these losses. Losses can be carried forward for an unlimited amount of time, so it is crucial to include all gains, losses and the annual exemption in any calculations in order to accurately determine how to maximise capital gains tax relief.