At Gordon Ferguson & Co we cater for a wide range of personal tax affairs for individuals covering all aspects including:
- advice and assistance with the preparation of your Self Assessment Tax return
- calculation of any tax liabilities due
- help with your ongoing tax affairs including payments on account and filing date requirements.
- completion of your tax returns in conjunction with your business affairs
- future tax planning issues
- representation through HM Revenue & Customs enquiries and investigations
Capital Gains Tax
Capital gains tax would normally arise on the disposal of assets which can result in a significant tax charges. Such charges may be reduced with effective pre-transaction planning and to ensure available reliefs and exemptions are maximised. At Gordon Ferguson & Co we can assist you in this planning and advise you on the best options which will minimise your tax exposure.
Entrepreneurs Relief (ER)
Since April 2008 ER has been available in respect of:-
- gains made on the disposal of all or part of a business, and
- gains made on the disposal of shares in your family trading company if you are an employee or director of that company
The relief allows these gains to be taxed at a special rate of 10% rather than the full rate of 18% or 28%. You can claim on more than one occasion up to a cumulative maximum of (currently) £10m.
Qualification rules for Entrepreneurs Relief are not straight forward. At Gordon Ferguson & Co we will work with you to review your business and determine its position, enabling you to plan ahead with confidence.