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The tax paid on the profit of selling or disposing an asset, which increases the value or capital, is referred to as capital gain tax. It is the gain made that’s taxed, and not the amount of money received. For example, Ben purchases an asset worth £5,000 and sold it later for £20,000. Thus, the gain made is difference between the selling price and purchase price i.e. £15,000. However, some assets are tax-free and an individual doesn’t have to pay capital gains tax. This applies if all the gains within a year are under the tax-free allowance limit. Disposing an asset includes – selling it, giving the asset as a gift, or transferring the asset to someone else or receiving reimbursement for it.
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Our team comprises Chartered Tax Advisers with many years’ experience in the industry, former property lawyers, accountants, and financial advisers. you can be assured that our advice comes with the best available seal of quality and expertise. Give us a call today on 020 3500 2646 to speak to our advisors, we'll find the right accounts & tax solution for you.
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I am writing this email as a token of appreciation for Manish Garg, who is our lead accountant for the past...
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Read moreWe use wide variety of softwares to manage your accounting and bookkeeping.
Consult our chartered tax advisor. Whether you’re a buy-to-let landlord, individual landlord, corporate landlord, property dealer, estate management, non resident investors, or a second home owner, we have packages and services to suit your every landlord and property need.
dns property tax services
Pacific House, 382 Kenton Road,
Harrow, Middlesex, HA3 8DP