Capital Gains Tax
If you’re unaware of how capital gains tax works, it can take you by surprise and reduce the income you receive on certain transactions. At Orchard Accountants, we can make capital gains tax much clearer, providing specific advice to help you avoid the pitfalls created by this confusing taxation system.
As a business grows, its assets grow in value along with it. When you sell a company asset for a higher price than you originally paid for it, you are taxed on the sale. This includes physical assets such as property, equipment and vehicles, as well as intangible assets such as stocks.
The team at Orchard Accountants can guide you through the capital gains tax process, ensuring that you are fully compliant when conducting any sale of company assets. We will also advise on how much capital gains tax you are likely to be charged on a transaction-by-transaction basis, ensuring you remain fully informed at all times.
Whether you’re a sole trader or part of a business partnership, seeking advice on capital gains tax is prudent as it directly relates to the taxable income of your business. To discuss this with one of our experienced team members, don’t hesitate to contact us today. We work throughout Kent and the Medway Towns — including Gillingham and Rochester — and we are always happy to help.
Get in touch for a FREE no obligation consultation on our accountancy services by calling our friendly team on 01634 570 390 or contact us online
Summer Economic Update
8th July 2020
When the Chancellor, Rishi Sunak, delivered his Spring Budget on 11 March to the packed benches of the House of Commons, the hope was that…View the full article View all articles
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