Most properties in the UK and in many other countries have significantly increased in value over recent years. Capital gains tax is charged at lower rates than income tax - but you may often be able to reduce this further if you take advice in good time.
Ensuring that you maximise eligibility for Entrepreneurs' Relief - looking at ways to reinvest the proceeds to claim relief e.g. under EIS or SEIS.
Some clients have been able to save tax by changing their plans and moving back into a property prior to sale to maximise the private residence relief. The earlier you can start to plan the more likely you can reduce the tax.
If the property is overseas then you will also need to take into account the currency difference. Clients selling property in the US have been in the unfortunate position where the dollar price of a property has remained the same over 10 years where as there is a significant gain in sterling on which tax must be paid - even if you are buying another asset in dollars.
Our team has over three decades of experience in dealing with gains on property - let us help you.