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thepartners@wrigleys.co.uk

Leeds: 0113 244 6100

Sheffield: 0114 267 5588

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Specialist legal and financial advice around Capital Gains tax

Selling or passing on your assets

Capital gains tax may be payable on the lifetime transfer or sale of assets with substantial unrealised gains.

These may be assets that clients wish to pass on to younger generations as part of their own estate planning, or assets which they wish to sell as part of a business sale or restructuring.

Whatever the situation, we are able to provide expert advice on the capital gains tax that may be payable, and also on ways of mitigating it over the longer term. Often this involves the use of holdover relief or rollover relief where existing unrealised gains can be deferred and the capital gains tax charge can “skip” a generation. Alternatively, it can involve advising on how to avoid a capital gains tax charge altogether.

Entrepreneurs' relief

Entrepreneurs' relief can lead to a sizeable reduction in a client's capital gains tax exposure where the sale of a business is involved. Crystallising a gain and claiming entrepreneurs' relief, or rolling a gain over into new business assets instead, can often be an important decision to make. We are able to advise on all aspects of this, as well as considering the best strategy from a long-term perspective.

CGT planning

Frequently, capital gains tax planning involves the transfer of assets between spouses and into discretionary trusts. Conditional exemption can also play a part where heritage assets are involved, and our advice always takes wider reliefs and other taxes into account, where relevant.

CGT on real estate

Frequently, Principal Private Residence Relief may be available for individuals who are disposing of their homes. We can advise on possible ways of securing the maximum relief available, so that any capital gains tax charge can be mitigated where possible.

We are proud to be ranked by Legal 500 as the leading firm in Yorkshire and the Humber for agriculture and estates and personal tax, trusts and probate, and by Chambers as one of only two top-tier private client firms in Leeds.

"very highly regarded private client team with lots of blue-chip high net worth individuals,"

"the private client practice is the core of the firm."

- Chambers & Partners 2019

Andrew Wriglesworth View Biography

Andrew Wriglesworth

Direct Line: 0113 204 5719

Partner
Leeds

Lynne Bradey View Biography

Lynne Bradey

Direct Line: 0114 267 5584

Partner
Sheffield

Meet the team

12 Dec 2018

Enfranchisement reform - implications for community-led housing

We look at the impact of proposed changes to enfranchisement law – community-led housing (CLH) groups should respond before 7 January 2019.

30 Nov 2018

Will a refusal to offer a trial period make a redundancy dismissal unfair?

Yes, the refusal of a contractual right to a four week trial period in an alternative role is very likely to lead to an unfair dismissal (EAT).

30 Nov 2018

Can an employee be dismissed for incapability if their contract provides long-term disability benefits?

Incapability dismissal may be unfair and discriminatory if employee is contractually entitled to income when incapacitated by permanent disability.