Client does not want to pay CGT on property disposal

We have a client who is looking to offload a property in 2012/2013. He purchased it for £55,000 and reckons he'll get about £190,000.

 

Fuming about 28% CGT on the higher rate.

 

He was told by someone down the pub that putting it in a company would solve the problem, but that would surely be an arms length transaction and would still raise a CGT liability.

 

He says he should get Entreprenuers relief. I've told him no. He won't have it and wants me to see how he can get out of it.

Was talking about buying a shed in Venezuela and changing his domicile and residence to not pay this beeping government.

 

Any ideas?

Comments
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|t least you'd get rid of him

bernard michael |

Get the bloke

Kent accountant |
Kent accountant's picture

Bloke down pub

occca |

Shocking headline reads.....individual doesn't want to

justsotax |

He is 75 and wants to be done

0098087 |

Just sell it a bit at a time

George Attazder |
George Attazder's picture

.

ireallyshouldknowthisbut |

Just how much......

Phil30 |

Well, he's just been caught

0098087 |

Is that unfair as well or

bernard michael |

It's in joint names

0098087 |

Just pay the flippin' tax

Ardeninian |

Is this his only big asset.?

bernard michael |

Have less and less sympathy for this guy....

justsotax |

Well yes I agree with all

0098087 |

This client sounds like a

bernard michael |

Not sure (due to his age)....but could he not raise a buy to let

justsotax |

He'll find it almost

bernard michael |

.

ireallyshouldknowthisbut |

nice one @ireallyshould

justsotax |

PPR

gbuckell |
gbuckell's picture

When re-reading this

bernard michael |

In theory you're right but

bernard michael |

fair point....I guess you just need to search out a few mortgage

justsotax |

Mortgage for an OAP

JAADAMS |
JAADAMS's picture

Tell him ...

BKD |
BKD's picture