Although there is now a standard rate of 18% tax applied to capital gains a number of reliefs are available. Careful planning prior to the disposal of assets, whether by gift or sale, may bring the level of tax down to an acceptable level.

Where capital gains tax is likely to be an issue, for example because of the forthcoming sale of a company or substantial family asset such as a house, it is sensible to plan the way that the asset is owned well in advance in order to achieve the best possible capital gains tax profile.