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23 June 2016
Selling something you own for more than you originally bought it for is the basis of doing 'good business' in terms of both personal and business finance.
Depending on the profit that an individual or organisation makes on the sale of their asset, they may become liable to pay capital gains tax (CGT).
There have been a number of changes introduced to CGT and its allowances and reliefs for the 2016/ 17 tax year.
Individuals and businesses who may be planning on selling assets in the near future should be aware of what their CGT liability is likely to be.
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