CAPITAL GAINS TAX BUSINESS
We will plan and calculate your business CGT so that your business stays within the law
Capital Gains Tax is paid when a company makes a profit or sells part of, or all of, a business asset. There are several assets on which a company must pay Capital Gains Tax, and these include buildings and land, fittings and fixtures, machinery and plant, shares and Stocks, the business’s reputation – Goodwill, registered trademarks. Businesses are required to work out their gain in order to determine whether or not they are required to pay Capital Gains Tax. Company is allowed to differed tax if they reinvest proceeds amount to allowable capital assets. Sole traders and people in a business partnership who are self-employed are required to pay Capital Gains Tax, while some other organisations, such as limited companies, pay Corporation Tax instead on the profits from the sale of their assets. No Capital Gains Tax is paid on any gift to a spouse, civil partner or charity. Business do not get tax relief on Capital gains like personal capital gains tax. With expert guidance from our skilled tax accountant, you can be sure that your company stays within the law when it comes to reporting and paying tax on your gains.