In this episode of The Wealth Expert, the host discusses effective strategies for avoiding or reducing capital gains tax (CGT) in light of potential changes in the economic landscape.

Email me paul.welch@millionplus.com

Here’s a summary of the key points:

Understanding Capital Gains Tax:

CGT is a tax on the profit made from selling or disposing of an asset that has increased in value (e.g., property, shares).
It is applicable to individuals, trustees, and personal representatives in the UK, but not all assets are taxed (e.g., your primary residence is usually exempt).
Strategies to Reduce Capital Gains Tax:

Utilize the Annual Exemption: Each individual has a tax-free allowance, so time your asset disposals to maximize this exemption.
Gifting Assets: Transferring assets to a spouse or civil partner can avoid CGT.
Invest in ISAs: Gains inside an Individual Savings Account (ISA) are tax-free, making them a good option for holding investments.
Set Up a Trust: Trusts can pass on wealth without immediate CGT liabilities, though professional advice is recommended for structuring.
Property-Specific Tips:

Private Residence Relief: If your property was your main home at any time, you might qualify for relief on part of the gain.
Letting Relief: Available for landlords under certain conditions, though now more limited.
Reinvesting in New Properties: This may defer CGT liabilities via schemes like the Enterprise Investment Scheme.
Investment Strategies:

Sell and Repurchase Shares: Consider selling shares and immediately buying them back within an ISA to shelter future gains.
Offsetting Losses: Use losses from some investments to offset gains from others, reducing your overall tax liability.
Portfolio Rebalancing: Spread asset sales across tax years to maximize exemptions.
Planning and Professional Advice:

Stay informed about potential changes to tax allowances and rates that could affect your strategy.
Use a capital gains tax calculator to estimate liabilities before selling assets.

The video emphasizes the importance of informed decision-making to protect and build wealth while complying with tax obligations. The host encourages viewers to subscribe for ongoing financial insights and updates.

00:00 Introduction to Capital Gains Tax
00:53 Understanding Capital Gains Tax
01:54 Legal Strategies to Reduce Capital Gains Tax
03:19 Capital Gains Tax on Property
04:30 Capital Gains Tax on Investments
05:40 Planning and Staying Informed
06:06 Conclusion and Final Tips



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About Paul Welch

Paul is a distinguished figure in the financial sector, frequently featured in prominent media outlets like the Financial Times, Bloomberg, and Forbes.

Since 2016, he has been consistently highlighted in The Spear’s 500, the indispensable guide to the leading private client advisors for high-net-worth individuals.

His insights into financial markets and high-value asset financing are highly respected, earning him a place on the Decision Maker Panel, where his data/expertise is fed back to the Bank of England's national monetary policy.

As an original member of the LinkedIn Creator program, Paul has become a leading voice in financial education on social media.

His YouTube channel, launched in August 2023, has quickly amassed a significant following, thanks to his engaging and approachable style. Paul's content covers a broad spectrum, from multi-million-pound mortgages to the mental health benefits of sea swimming.

Paul has facilitated over £4.2 billion in luxury asset financing, and Millionplus.com, a pioneering platform for trading luxury assets. His ventures reflect his visionary approach to finance and entrepreneurship.

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