A vital lifeline for landlords and property investors
Granville Developments have joined forces with The SidebySide Partnership in order to help you, or a client, manage the impact of property gains tax, following a property sale. Granville’s expertise within the property sector, combined with SidebySide’s decades of experience in capital investment, results in the perfect partnership that can assist individuals with their tax planning.
Capital Gains Tax is a tax on any profit you make upon disposal of an asset, it applies to most assets when they’re sold. Capital Gains Tax is applicable when assets are inherited (and then sold) and even gifted.
Total Inheritance Tax Receipts from HMRC Data in 2019/20
Total Capital Gains Tax Receipts from HMRC Data in 2019/20
And the rules have changed…
The days of which a client has to report and pay a capital gain following the sale of a Buy To Let/Second property is now 30 days from completion. This is down from up to 22 months…
As property values increase over a period of time, the volume of tax savings we are able to orchestrate for those wishing to sell only increases too. However, many have been reluctant to sell in the past due to tax payments. You can minimize or defer capital gains by investing wisely.
The SidebySide Partnership & Granville are together offering the opportunity for higher rate tax payers to not only be able to defer their capital gains tax indefinitely by investing into a tax efficient investment fund, but also qualify for both inheritance tax and income tax relief on their investment.
To find out more, complete the contact form below and a member of team will be in touch!