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Don't get caught out by Capital Gains Tax

June 3, 2018

Most readers have probably heard of Capital Gains Tax (CGT) but how much do you know about the situations in which CGT is charged? You
could be forgiven for thinking that CGT is only payable when you sell an asset which is chargeable to CGT (e.g. a rental property) and realise a
‘profit’ on the sale. But did you know that CGT can also be payable when you make a gift of an asset to, say, a family member? You are not alone
if this comes as a surprise to you and it is therefore worth examining some such situations that may give rise to an unexpected CGT liability.

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