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    We are open: Monday to Friday from 9am to 7pm and Saturday from 10am to 5pm

    18 - 20 East Street
    Bromley, BR1 1QU

    At Adiva Accountants all initial consultations are free of charge, so contact us today.
    For quality, competitive, and friendly accountancy services, please contact

    Adiva Accountants

    on 020 8313 9117 or via email at contact@adivaaccountants.co.uk.

    At Adiva Accountants we have the knowledge and the experience to provide you with the kind of accounting and tax services that you are looking for. At Adiva Accountants we look forward to discuss with you, without obligation, ways in which we may be able to help your personal or business needs.

    Alternatively, you can complete the contact form here and we will respond as soon as possible.

    Directors of Adiva Accountants have over 10 years’ experience of providing accountancy services. They have completed Bachelor and Masters degrees in Accountancy, Taxation and Business Management. Additionally, they have completed various accountancy qualifications such as ACCA, AAT, etc. So, they hold various accountancy degrees and qualifications up to chartered certified accountant.

    They can advise you on many other things, such as how to get the best price when you come to sell your business. Or on how to satisfy the banks conditions when you need help with finance. Or on how to keep creditors, insurers and suppliers happy, etc. Their expertise covers income tax, capital gains tax, corporation tax, VAT, payroll and many more.

    They can help with dealing with Inland Revenue investigations also.


    Parking

    There are parking bays right in front of the office, please be careful not to park in loading bays. Parking costs £1.90 per hour (maximum stay 2 hours). Alternatively, you can park in Sainsbury’s car park, which is just 1 minute walk away from the office. Parking there is completely free for 30 minutes and would be free for up to 2 hours provided you spend £10 in Sainsbury’s. Our office is at 18-20 East Street, Bromley BR1 1QU, which is opposite of O’Neill’s pub and TruGym.

    Alternatively, there is a big car park (1,500 spaces) in the INTU Bromley Shopping Centre (formerly The Glades). Parking costs £1.10 per hour for every day of the week. The shopping centre car park address is: The Glades, High Street, Bromley, BR1 3EF.


    By car

    If you drive to our office in Bromley, please enter this address in your Satnav 18-20 East Street, Bromley, BR1 1QU. From Orpington, you can take A232, then A21. From Beckenham, you can take A222. From Eltham, you can take A208B226A2212, then A21. From Lewisham and Catford, you can take A21. From Croydon, you can take A232A233, then A21. From Kent, you can take A21. From North and East London, you can take the Blackwell tunnel southbound, A2A2213A20South Circular RoadA2212, then A21. From West London, you can take South Circular Road to Catford, then A21.


    Public transport

    We are situated in Bromley East Street, which is served by Bromley South and Bromley North train stations, they are about 5-10 minute’s walk away oesterreichischeapotheke.com/. There are direct trains from London Victoria, London Bridge and London Blackfriars to Bromley South station. Bromley South is connected by direct trains to major towns around London and in Kent such as St Albans, Orpington, Sevenoaks, Ashford, Gillingham, and Ramsgate.

    The main bus routes serving Bromley High street are 61, 119, 138, 146, 208, 227, 246, 261, 269, 320, 336, 352, 354, 358, and 367.

    Chartered Certified Accountants       Call us: 020 8313 9117 contact@adivaaccountants.co.uk
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    What are the main reliefs available for Capital Gains?

    We will cover below the taxation of capital gains and outline the reliefs available. If you live in Welling, Beckenham, Bromley, Kent and London we, at Adiva Accountants in Welling, can provide taxation advice to ensure that maximum opportunity is taken of the reliefs available.

    A capital gain arises when certain capital (or ‘chargeable’) assets are sold at a profit. The gain is the sale proceeds (net of selling costs) less the purchase price (including acquisition costs).

    The features of the current system

    • For disposals up to 5 April 2016 capital gains tax (CGT) at the rate of 18% applies to gains (including any held over gains coming into charge) where net total taxable gains and income is below the income tax basic rate band of £31,785 for 2015/16. Gains (or the rest of gains) above this limit will be charged at 28%.
    • From 6 April 2016, with a few exceptions the government is to reduce the higher rate of CGT from 28% to 20% and the basic rate from 18% to 10%.
    • Entrepreneurs’ relief may be available on certain business disposals.

    Entrepreneurs’ Relief (ER)

    For certain business disposals taking place on or after 6 April 2008, ER may be available. This relief has the effect of charging only 10% tax on the first £10m (from 6 April 2011) of gains qualifying for the relief.

    This relief will apply to gains arising on a disposal of:

    • the whole, or part, of a trading business that is carried on by the individual, either alone or in partnership;
    • assets used by a business or a company which has ceased;
    • shares in a trading company, or holding company of a trading group. Provided that the individual owns broadly a 5% shareholding and has been an officer or employee of the company;
    • assets used in a partnership or by a company but owned by an individual. If the assets disposed of are ‘associated’ with the withdrawal from participation in the partnership or the company.

    A trading business includes professions, but only includes a property business if it is a ‘furnished holiday lettings’ business.

    In certain situations, there are restrictions on obtaining the relief on an “associated disposal”. This applies where a property is currently in personal ownership, but is used in an unquoted company or partnership trade in return for a rent. The availability of ER relief is restricted where rent is paid from 6 April 2008 onwards. It is clear that careful planning will be required with ER, so please do get in touch. We are happy to discuss ER in detail and how it might affect your business.

    Investors Relief

    In Budget 2016 the government announced that ER will be extended to external investors. Other than certain employees or officers of the company in unlisted trading companies. To qualify for the 10% CGT rate under ‘investors’ relief’ the following conditions will apply:

    • shares must be newly issued and subscribed for by the individual for new consideration
    • have been issued by the company on or after 17 March 2016 and have been held for a period of three years from 6 April 2016
    • be in an unlisted trading company, or an unlisted holding company of a trading group
    • have been held continuously for a period of three years before disposal.

    An individual’s qualifying gains for investors’ relief (the same as ER) will be subject to a lifetime cap of £10 million.

    Other reliefs

    Capital gains rise on Enterprise Investment Scheme and Venture Capital Trust shares, and deferred gains on share for share or share for loan note exchanges, can be complex. Please talk to us before making any decisions.

    Finally, many existing reliefs continue to be available, such as:

    • private residence relief;
    • letting relief;
    • business asset gift relief, which allows the gain on business assets that are given away to be held over until the assets are disposed of by the donee;
    • business asset rollover relief, which enables the gain on a business asset to be deferred until a point in the future;
    • any unused allowable losses from previous years, which can be brought forward in order to reduce any gains.

    If you are an investor or entrepreneur who live in Welling, Beckenham, Bromley, Kent and London we, at Adiva Accountants in Welling, can provide tax advice to ensure that all the reliefs available are claimed. We would welcome the chance to tailor a plan to your own personal circumstances, so please do contact us today.

    Categories: Personal taxation, Self assessment tax return
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