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Personal Capital Gains Tax Services
Specialist Capital Gains Tax Accountant
Our experienced tax accountants provide tailored Personal Capital Gains Tax services, from property and shares to investments, ensuring accuracy, reducing stress, and delivering favourable outcomes with confidence and efficiency.
Get Professional Help for Reporting CGT to HMRC
Understanding Personal Capital Gains Tax
Understanding Personal Capital Gains Tax is crucial when selling property or valuable assets. Our experts help you calculate gains, apply allowances, and identify reliefs to minimise liabilities. This approach ensures HMRC compliance and reduces financial risks. Accessible to homeowners, investors, and heirs, our services simplify CGT, saving you time and enhancing tax efficiency for long-term peace of mind.
Tax Planning for CGT Liabilities
Tax planning for Capital Gains Tax helps individuals minimise liabilities when selling property or investments. Our tax accountants offer strategies that leverage reliefs and timing for effective liability reduction. This proactive approach ensures HMRC compliance, avoids penalties, and safeguards profits. Available to landlords, investors, and business owners, our services focus on cost-effective solutions and long-term tax efficiency.
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Honesty guides everything we do. We believe in transparent advice, accurate reporting, and doing what’s right for our clients every time.
We live and breathe tax. Our expert team delivers up-to-date, accurate advice so clients stay compliant, efficient, and ahead of the curve.
Every client matters. We take time to listen, understand your needs, and deliver personalised tax solutions with care and attention to detail.
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We are a team of specialist tax advisors who are delivering expert guidance on tax compliance, international tax, HMRC investigations, business structuring, capital gains, inheritance tax, corporation tax and self assessment services.
We know personal taxes can be overwhelming. With us, your returns are accurate, on time, and tailored to your unique life.
We know running a business is hard enough. Let us handle your business taxes so you can focus on growth with confidence.
We know smart planning makes a difference. Our tax strategies help you stay compliant, save more, and plan for the future.
We know living abroad brings tax challenges. Whether in or out of the UK, we make your expat taxes smooth and stress-free
We know HMRC enquiries can be daunting. Count on us for expert support and peace of mind during your tax investigation.
We know unfair tax bills cause stress. If you disagree with HMRC, we’ll guide your tax appeal with precision and confidence.
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What is Personal Capital Gains Tax, and when does it apply?
Personal Capital Gains Tax (CGT) in the UK is a tax on the profit you make when selling or disposing of an asset that has increased in value. It’s not the amount you receive from the sale, but the gain—the difference between what you paid and what you sold it for—that is taxed.
CGT applies to a wide range of assets, including:
- Residential property that isn’t your main home.
- Second homes, buy-to-lets, and holiday homes.
- Shares, investments, and funds outside ISAs.
- Valuable personal possessions worth more than £6,000 (except your car).
- Business assets are those that are used when you close or sell a business.
Everyone has an annual exempt amount—£6,000 in 2024/25 (dropping to £3,000 in 2025/26). Gains above this are taxed at rates between 10% and 20% (18% or 24% for residential property), depending on your Income Tax band.
For example, if you sell a second home for £300,000 that you bought for £200,000, your gain is £100,000. After deducting costs (like estate agent and solicitor fees) and your allowance, you’ll pay CGT on the rest.
At Tax Accountant, we guide you through every step—calculating gains, applying reliefs, and filing HMRC reports on time. We aim to minimise your liability while keeping you fully compliant.
How is Capital Gains Tax calculated in the UK?
CGT is calculated by working out your gain—that’s the selling price (or market value if given away) minus the original purchase price and any allowable costs. Allowable costs include items such as stamp duty, solicitor fees, and the cost of improvements (excluding maintenance).
After calculating your total gains for the year, you deduct your annual exempt amount. If the net gain exceeds this threshold, CGT is payable. The rate depends on your Income Tax band:
- Basic rate taxpayers pay 10% (18% for residential property).
- Higher/additional rate taxpayers pay 20% (24% for residential property).
Example: You bought shares for £20,000 and sold them for £40,000. The gain is £20,000. After deducting your £6,000 allowance, you’ll pay CGT on £14,000. If you’re a higher-rate taxpayer, that’s £2,800.
The calculation can get complex if you sell multiple assets, own jointly with a spouse, or qualify for reliefs. Timing disposals across tax years can also reduce liability.
At Tax Accountant, we do more than basic calculations—we structure disposals for maximum tax efficiency, ensure allowable costs are included, and prepare accurate HMRC returns.
What reliefs and exemptions are available for CGT?
There are several ways to reduce your Capital Gains Tax bill through reliefs and exemptions. These include:
- Private Residence Relief (PPR): If the property was your main home, you may pay little or no CGT.
- Letting Relief (limited cases): Some relief for periods when your main home was let out.
- Business Asset Disposal Relief (BADR): Formerly Entrepreneurs’ Relief, it allows qualifying business owners to pay a reduced CGT rate of 10%.
- Rollover Relief: Defers CGT if proceeds are reinvested in another qualifying asset.
- Gift Holdover Relief: CGT can be deferred when gifting certain business assets.
Additionally, everyone benefits from the annual exempt amount. Transfers between spouses or civil partners are generally tax-free, allowing couples to share ownership and maximise both allowances.
Example: A married couple selling an investment property with a £40,000 gain can split ownership and utilise both allowances, significantly reducing their taxable gains.
At Tax Accountant, we identify which reliefs apply to you and ensure they’re used correctly. Many clients overpay CGT simply because they aren’t aware of the reliefs available.
How do I report Capital Gains Tax to HMRC?
Reporting CGT depends on the type of asset. For UK residential property, you must report and pay CGT within 60 days of completion using HMRC’s online “Capital Gains Tax on UK Property” service. Late reporting leads to penalties and interest.
For other assets, CGT is usually reported as part of your Self Assessment tax return. You’ll need to include details of disposals, purchase costs, allowable expenses, and reliefs claimed.
Example: If you sell shares at a gain of £15,000 in September, you’ll report this on your Self Assessment for that tax year. If you’re already in Self Assessment, it’s straightforward. If not, you’ll need to register.
HMRC requires detailed records, including purchase and sale contracts, as well as costs for improvements and professional fees. Without these, claims may be subject to challenge.
At Tax Accountant, we prepare and submit CGT reports on your behalf. We make sure deadlines are met, reliefs are applied correctly, and calculations align with HMRC’s rules to avoid errors or penalties.
What is CGT on property and second homes?
If you sell a property that isn’t your main residence—such as a second home, buy-to-let, or holiday home—you’ll likely pay CGT. The gain is calculated by subtracting the purchase price and allowable costs (such as stamp duty, solicitors’ fees, estate agents’ fees, and improvements) from the sale price.
The annual exempt amount reduces the taxable gain, but anything above is taxed at:
- 18% for basic rate taxpayers.
- 24% for higher or additional rate taxpayers.
Example: You sell a buy-to-let for £300,000, originally purchased at £200,000, with £10,000 in costs. The gain is £90,000. After allowances, the taxable gain may be £84,000. If you’re a higher-rate taxpayer, CGT is £20,160.
Reporting must be completed within 60 days of completion; otherwise, HMRC will apply penalties. At Tax Accountant, we specialise in property CGT. We calculate accurate gains, apply reliefs (like Private Residence Relief if part of the property was once your home), and handle HMRC reporting on time.
How does CGT apply to shares and investments?
Shares, funds, and other investments outside tax-free wrappers like ISAs are subject to CGT. Each disposal is considered separately, but HMRC applies “share matching rules” to calculate gains, which can get complicated.
You must use:
- Same-day sales and purchases.
- “Bed and breakfast” rules (shares bought within 30 days).
- Section 104 pool (average cost of remaining shares).
Example: You buy 1,000 shares at £5 (£5,000) and later sell them for £9 (£9,000). Your gain is £4,000, minus allowable costs like broker fees. After applying your annual exemption, CGT is due on the balance.
The current allowance (£6,000 in 2024/25, reducing to £3,000 in 2025/26) means many smaller investors won’t pay CGT, but larger portfolios are affected. At Tax Accountant, we handle share disposals, apply complex HMRC rules, and ensure accurate reporting. We also advise on strategies like Bed and ISA, which can legitimately reduce future liabilities.
How can I reduce my Capital Gains Tax liability?
Reducing CGT is about smart planning and making full use of allowances and reliefs. Strategies include:
- Using your annual exemption (£6,000 in 2024/25, £3,000 in 2025/26).
- Splitting ownership with a spouse to double allowances.
- Timing disposals across tax years to maximise Relief.
- Claiming costs of improvements and professional fees.
- Using pension contributions or Gift Aid to reduce your Income Tax band, lowering your CGT rate.
Example: A couple selling shares with a £20,000 gain can transfer half the shares to one partner, effectively doubling the allowances and significantly reducing the taxable gain.
At Tax Accountant, we provide proactive CGT planning. We model various scenarios, advise on optimal sales timing, and apply reliefs to minimise liability. Clients often save thousands by restructuring how and when they sell assets.
What happens if I don't report or pay CGT on time?
Failing to report CGT on time can be costly. For property disposals, the 60-day reporting deadline is strict. Missing it triggers an initial £100 penalty, followed by additional daily fines if the delay continues. HMRC also charges interest on unpaid tax.
For other assets, failing to declare gains on your Self Assessment return may result in penalties of up to 100% of the tax due if HMRC considers the error to be deliberate. Even careless mistakes attract fines.
At Tax Accountant, we prevent this by preparing and filing reports quickly and accurately. If you’ve already missed a deadline, we can liaise with HMRC, explain mitigating circumstances, and negotiate reduced penalties.
Do non-residents pay Capital Gains Tax on UK property?
Since April 2015, non-UK residents have been required to pay CGT on the sale of UK residential property, and as of April 2019, this requirement has been extended to commercial property and land.
Non-residents must report disposals within 60 days of completion, even if no tax is due. The gain is calculated on the increase in value since April 2015 (for residential property) or April 2019 (for other land/buildings).
Double tax treaties may allow for a credit for tax paid abroad, thereby reducing liability. At Tax Accountant, we specialise in non-resident CGT. We calculate gains, handle reporting, and ensure you don’t overpay by applying treaty reliefs.
Why choose Tax Accountant for Personal Capital Gains Tax services?
Managing CGT can be complex. From calculating gains to applying reliefs and meeting strict HMRC deadlines, mistakes can cost you dearly. That’s why professional help makes a difference.
At Tax Accountant, we provide:
- Expert CGT calculations for property, shares, and assets.
- Reliefs and allowance planning to reduce liabilities.
- Timely HMRC reporting within 60-day deadlines.
- Specialist support for non-residents.
- Defence in case of HMRC enquiries.
What sets us apart is our personalised approach. We don’t just process numbers—we explain your options, highlight tax-saving opportunities, and build strategies to protect your wealth long-term.