Capital Gains Tax

Capital Gains Tax

What is CGT?

Capital Gains Tax is the tax you pay on the profit when selling a qualifying asset (such as Property, stocks and shares, fine art etc) that increased in value.

If you make a Gain (i.e. a Profit) then you may be liable to pay taxes.

Tax Rates

Tax rates and the calculation of gains differ based on type of asset in question. In addition, you tax band will also make a difference, for example, if you are basic rate tax payer then you’ll pay 10%, whereas higher rate tax payers will pay 20%.

Again note, that gains themselves may push you to higher tax band temporarily.


Advice from Qualified Staff

It is important to get professional tax advice when dealing with Capital Gains so ensure you make the most of any tax reliefs available and plan your disposal to minimise your tax liability.

Being a qualified Chartered Accountants and having decades of experience advising our clients we are best placed to ensure you get right advice from the beginning and make the most of your tax planning.

Our specialist tax adviser will handle the entire tax return process, deal with HMRC on your behalf and provide full support throughout the process until completion.

Chargeable Assets

It is important to note that not all assets are subject to Capital Gains Tax such as Cash, Wasting Chattels (a tangible, moveable property with less than 50 years of life. Unless an asset is specifically exempt under the legislation all assets are subject to Capital Gains Tax.

Calculation of Capital Gains Tax

The rate of capital gains tax depends on the level of an individual’s taxable income and the nature of the asset being disposed of.

For eg. a residential property capital gains calculation may differ to a wasting chattel with low value. Similarly gains on shares are calculated using a different method altogether.

In addition, there may be number of tax reliefs available for specific assets such as Residential property.

    Dedicated Accountant

    Our goal is to provide exceptional customer service experience, every time and all the time. All our account managers respond the same day or within 24 hours, provide a practive and accurate service. Having a dedicated manager means that we get to learn more about you and your business or personal tax circumstances which allows us to actively ensure you tax planning is up to date with changing regulations.

    We believe that by building a relationship with you on a personal level, the experience is much more rewarding.

    So, no matter how complex your tax affairs may be, we approach them without confusion you the jargon and explain in simple clear layman terms. We provide tax advisory in many areas including Landlords, Sole Traders, Corporates and high net worth individuals on both Income taxes and Capital Gains.

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