The Mudcat Café TM
Thread #100958   Message #2031862
Posted By: Jean(eanjay)
21-Apr-07 - 07:49 AM
Thread Name: BS: Capital Gains Tax enquiry
Subject: RE: BS: Capital Gains Tax enquiry
If it is in the UK we still call it capital gains tax and a good accountant should be able to advise and help to save a lot of tax. Most people are not aware of what they can use against the tax and there are all sorts of things.

Also, in the UK, if you speak to HM Revenue and Customs they will send you a booklet on it. I have one and I have to say I haven't bothered to read it all. I have a property that I rent out and I think that when I do eventually sell it I will use an accountant and s/he should be able to use the tax taper relief plus some of my costs over the years.

Building plots are of course slightly different but again a good accountant will be able to advise.