Since April 2008, the Capital Gains Tax regime has been greatly simplified to a flat rate of 18% for all taxpayers. As a result there have been a significant number of winners and losers.

Whilst the system may have been simplified, this does not lessen the tax planning opportunities to minimise tax payable. Considerations might include losses, reliefs, ownership of the asset and how it is owned. To maximise the opportunity, forward planning is essential.

As with many other taxes, careful planning and detailed practical knowledge of the legislation can minimise the tax payable.

Through pro-active Capital Gains Tax planning we have recently saved a client over £50,000 on the sale of agricultural property.