Allowances and reliefs
Did you know that if you sell, give away or exchange an asset that has increased in value, you’ll need to pay capital gains tax? Even if you give an asset away, because you pay tax on the gain, not on how much you’ve received. And this can be between 10% and 28%.
We know that doesn’t make for easy reading. But don’t worry, we’re here to help.
With our help with good tax planning, you’ll be amazed at how much we can whittle away at your tax liability.
How we can help
The good news is that some assets don’t attract capital gains tax. For those that do attract capital gains tax, we can help by:
- Delaying payment of the capital gains tax by rolling the proceeds of a business asset over to another business asset
- Reducing the rate of tax payable to 10% if you qualify for Business Asset Disposal Relief, formerly known as Entrepreneurs’ Relief
- Claiming letting relief on a rental property you’ve lived in
- Claiming EIS relief on qualifying investments
- Claiming acquisition, disposal and improvement costs
- Offset capital losses suffered in the past.
There are also special rules for gifting to your spouse or civil partner, and for gifting to charities – rules that can be really handy when disposing of assets.
Choosing the right time to sell your assets
-
Selling an asset
If you sell an asset on the 6th of April instead of the 5th, you’ll have an extra 12 months until you have to pay the tax over to the HMRC.
-
Disposing of an asset - in a year
Depending on the size of the gain, you can half the tax you pay from 20% to 10% if you can dispose of the asset in a year with little or no other income.
-
Disposing of an asset - over a number of years
Spreading the disposal of assets over a number of years, so that you claim your annual tax-free allowance each year rather than wasting it (as it can’t be carried forwards).
Latest news and insights
-
19 January 2026Freed to Focus on Football: How Christian Nørgaard Built Confidence in His UK Financial Future
A new league, a new country, a mountain of paperwork When Christian Nørgaard arrived in the UK in 2019, he was at a pivotal moment in his career. The Danish international, who now has 39 caps for his country, had built a strong reputation playing in Italy, before joining Brentford FC with high expectations.... -
16 January 2026Inheritance Tax Planning after the latest relief changes
December brought a major shift in inheritance tax planning. From April 2026, the first £2.5 million of qualifying business and agricultural assets will receive full relief—up from the £1 million originally proposed. While this increase is welcome, it doesn’t remove the need for careful planning.... -
14 January 2026Employment Rights Act: What UK businesses need to know in 2026
The Employment Rights Bill has now passed through Parliament and received Royal Assent, becoming the Employment Rights Act 2025. This landmark legislation represents the most significant overhaul of workplace rights in a decade, with phased implementation starting in April 2026 and continuing into 2027....
Let’s do great things together
Book a meeting to talk with our expert team by clicking the button below.
