Capital Gains Tax occurs when an asset is disposed of and is payable by the person disposing of the asset.  The word asset has a wide definition, but examples of some of the more common ones would be property, land and shares.

If you are considering disposing of an asset you should ideally seek professional advice before doing so.  Not all assets will be subject to CGT, and in many cases if there is a CGT liability, it may be possible to reduce or eliminate this altogether.  In addition your own residency could have a significant impact on any tax payable.  Proper planning beforehand could significantly reduce your tax bill.

We can advise on the CGT implications of disposing of your asset, and provide guidance on the best way to structure your affairs.

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