At FinSol Tax Advisors, We have an innovative group of tax Accountants in Watford. We are a professional firm who offering accountancy services to both business and individuals in Watford.
Capital Gains Tax: It is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. Some assets are tax-free. You also don’t have to pay Capital Gains Tax if all your gains in a year are under your tax-free allowance.
Self Assessment: It is a system HM Revenue and Customs ( HMRC ) uses to collect Income Tax.
Disposing of an asset includes:
- Selling it
- Giving it away as a gift, or transferring it to someone else
- Swapping it for something else
- Getting compensation for it – like an insurance payout if it’s been lost or destroyed
To find out more about our services contact us any time, we provide the perfect answer and satisfied suggestion of your query.