Uncategorized

What is Capital Gains Tax?

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.

finsol4

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s