Capital Gains Tax Advice

Save tax and remain compliant with HMRC.

With an ever-changing tax landscape, it’s crucial to remain up to date on the requirements for capital gains tax, whether you’re looking to sell your property, shares or business assets. Page Kirk has a dedicated team of tax specialists on hand, to assist with your capital gains tax requirements.

What is Capital Gains Tax?

Capital Gains Tax (CGT) is the tax payable on the profits individuals make on the sale of assets. Each year individuals’ have a CGT Annual Exemption up to which any gains made on the sale of assets will not be taxed. The CGT annual exemption for 2022/23 tax year is £12,300. CGT is then due at rates of 10% for basic rate taxpayers and 20% for higher and additional rate taxpayers. These rates increase to 18% and 28% respectively for sales of residential property.

CGT is payable on the profits made on a wide range of assets, including:

Land & Property, including both residential and commercial properties

Personal assets

Capital Gains Tax on UK Residential Property

If you sell a property in the UK that has not always been your main home, you will usually be required to pay CGT on any profit that you make.

There are separate rules for reporting and paying CGT on UK residential properties. As of October 2021, property sellers must report the sale, and pay any tax due, within 60 days of completion.

Business Asset Disposal Relief

If you sell a property in the UK that has not always been your main home, you will usually be required to pay CGT on any profit that you make.

There are separate rules for reporting and paying CGT on UK residential properties. As of October 2021, property sellers must report the sale, and pay any tax due, within 60 days of completion.

Contact our team of technical tax experts to find out more.

Page Kirk’s Capital Gains Tax Service

CGT calculations can be complicated so, if you want to make sure you are as tax efficient as possible, we can help to guide you through the process.

We will ensure that the process is completed quickly and accurately, avoiding incurring penalties from HMRC. This is particularly important when it comes to CGT on UK property sales as the timeline for compliance is so tight.

Our expert Capital Gains Tax service includes:

Calculating the CGT amount payable to HMRC.

Reporting the disposal to HMRC.

Handling of HMRC investigations (covered under Tax Investigation Insurance).

Personal assets.

When we calculate the Capital Gains Tax bill, we review every possible solution for tax efficiency, which includes:

Full evaluation of income, asset value and circumstances
Identifying all applicable tax deductions (such as professional fees)
Assessing eligibility for reliefs and exemptions

Reviewing any previous losses to reduce your bill
Advising on asset ownership to maximise relief within a family
Reviewing the use of trusts to reduce CGT

Why choose Page Kirk?

We will provide you with a dedicated client manager who will ensure that your CGT obligations are completed with minimal effort and hassle for you. Our CGT knowledge usually enables us to save our clients significant money by reducing tax through reliefs they may not realise they’re eligible for.

Our personalised service can be combined with other accountancy services, so that you have a friendly, award-winning team of chartered tax advisors who understand your business, working towards better financial outcomes for you.

At Page Kirk, our chartered accountants and chartered tax advisers can provide you with all the advice you need, taking away the stress and concerns that your tax affairs are in order.

A single point of contact for all of your enquiries
A service that is tailor-made for you
Quick response time
A dedicated tax department with a wealth of experience and expertise

Business heritage dating back over 120 years
Nottingham-based accountants with national and international reach
Saving you valuable time with technology solutions
Hands-on partners who give you the best advice

What’s next?

Arrange a consultation to find out how we can help you. Call us today on 0115 955 5500 or email enquiries@pagekirk.co.uk.

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Page Kirk is a leading accountancy practice in Nottingham, but we service clients across the country, so wherever you are based, we can help. We will assign you an accountant to assist you in growing your business and improving its efficiency. Contact us to find out how we can help you today.

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From ensuring that you comply with your statutory requirements, to navigating the scaling-up of your business, through to effective profit extraction and dealing with your tax affairs, Page Kirk Nottingham accountants are here for you every step of the way.

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