ADVICE REGARDING CAPITAL GAINS TAX

[POORCARDEALER]

CGT........18%
Personal allowance of around £9500


Are there any other legal ways of not paying the full 18% on the rest. This relates to land bought 6 months ago. I couldnt leave the country either.

[smartie]

Is it in joint names with your wife? If so 2 x £9.5K allowance, if not, stfr half to her b4 selling. (Tfr's between spouses are exempt cgt)

[Workshy Fop]

Got any under-performing stocks? You can offset capital losses against capital gains if you sold any at a loss.

[M400 NBL]

You bought land 6 months ago and it's worth more now

[POORCARDEALER]

Thanks for the replies gents, very much appreciated...........it is building land which I purchased at a favourable rate via a relative, hence there will be a bit of profit when I sell it...... I think a bit of expert paid advice is the way to go

Edited by POORCARDEALER on Thursday 23 October 22:54

[wattsm666]

If you bought it from a relative then your relative may have some tax issues.....speak to an accountant.