Capital Gains Tax Accountant (CGT)

Give a little to gain a lot

When you sell, give away or dispose of an asset, such as a second residential property or high-value item, you are liable to pay capital gains tax on the profits. How much you owe depends on whether you’re a basic rate or higher rate taxpayer, among other things.

For the current CGT rates, download our Tax Card 2024/25. 

CGT only applies to individuals, as companies are charged corporation tax on chargeable gains instead, and there are a number of exemptions and exclusions.

We will help you to understand your CGT requirements and make sure you only pay as much tax as you’re legally obliged to. Seeking professional capital gains tax advice is essential to navigate complexities and minimise tax burdens.

Real time Capital Gains Tax service

The government has launched a real-time CGT service to allow you to report any gains that are not made from selling UK residential property. The service can be used as soon as the gain and tax have been calculated on a disposal, and the deadline for reporting the gain in this way is 31 December after the year of the gain. The tax will be owed by 31 January the following year.

If you need to submit a self-assessment tax return for any other reason, you will also have to report any gains made on your tax return. We can help you to comply with the complicated CGT rules and make sure you pay no more or less than you’re legally required to.

CGT and non-domicile status

Your residency and domicile status has an impact on your capital gains tax liabilities, including scenarios like selling personal possessions, shares, and properties. We’ll make sure you make the best financial choice and comply with all tax rules, avoiding charges and penalties. It is crucial to seek capital gains advice to minimise tax burdens and understand the implications of various transactions.

Forewarned is forearmed

Changes to CGT, in particular with regard to residential properties, may be coming soon. It’s worth considering your potential tax burden now:

• Are you letting a property which was once your main residence and could qualify for private residence relief, a tax break available to owners selling their main home?

• Are you considering selling or gifting a property?

• Do you own any properties or assets that may be affected by tax changes?

• Are you the sole owner of a property and you have a spouse or civil partner?

We will help you to identify any opportunities to minimise your capital gains tax liability, saving you time and money. Additionally, it is possible to develop strategies to offset capital gains tax and consult specialist tax advisors who can provide expert advice on asset disposals and maximising tax reliefs.