MWL FINANCIAL GROUP
SECTION – PROPERTY EXPERT
SUBJECT – Cost base versus Stock
Hi I'm Jeff Banks, Business Advisor with over 30 years experience at MWL Financial Group specialising in property transactions.
When it comes to property transactions and the profit made thereon we look at what makes up the cost of the property when assessing profits and then the tax that is applicable.
When it comes to CGT we look at what is termed the cost base of the asset. In a business sense it’s the cost of goods sold. These two terms may sound congruous and to the normal person that makes sense but in tax law they are very different.
Costs like rates and interest may be treated very differently in either of these scenarios.
For more information contact us at firstname.lastname@example.org and either me, Jeff Banks or one of our experts will be more than happy to help.