Ostroff, Fair and Company
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UK Corporate Capital gains tax?


Can anyone tell me how corporate capital gains is calculated in the UK, and at what percentage? I own a Ltd company which owns a flat, in which I live and which is my only home. I want to sell it and need to know what my (or my companies) costs will be.

The gain is calculated as the proceeds received less the cost originally incurred less an allowance known as 'indexation' which gives you credit for inflation. The longer you have held the flat, the more credit for inflation you'll receive to reduce the gain.

The gain will be taxed at whatever rate of tax the company pays based on profits. If it is a one-off stand alone company any profits or gains up to 拢300,000 will be taxed at 19%. Once the profits and gains exceed this sum the tax rate begins to rise, reaching a rate of 30% once profits and gains for the year total 拢1.5m.

Really too complicated to answer in a short question like this. Try the HMRC website for more info or speak to an accountant/tax adviser.
Bad structure there old bean - no CGT on a personal residence you see; but the corporate structure has probably put you into a CGT position coz a limited company is a 'person' in law. There are structures around to eliminate such losses but the costs mean that its only worth doing for gains exceeding 拢300k. You need a decent tax accountant to get you out of this one.
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