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Capital Gains Tax Return

We'll submit your Capital Gains Tax Return for £220

When you make a gain on an asset, you’ll need to report that gain to HMRC. Doing the calculations and submitting the forms yourself can be stressful and time-consuming.

Our Capital Gains tax return service is ideal for anyone who has sold personal possessions worth more than £6000, or has found themselves needing to report a capital gain to HMRC when they have sold shares, a property or a business.

When you purchase our service, one of our qualified accountants will complete your capital gains calculations and submit your capital gains tax return to HMRC for you.

What is Capital Gains Tax?

Capital gains tax (CGT) is a tax on the profit made from the sale or disposal of an asset. In the United Kingdom (UK), CGT is applicable to most assets, including property, shares, and personal possessions worth more than £6,000.

The amount of CGT paid depends on several factors, including the type of asset sold, the purchase price, and the amount of profit made. In the UK, individuals are entitled to an annual CGT allowance, which is currently set at £12,300. This means that if the total gain is below this threshold, no tax is due.

For higher-rate taxpayers, the CGT rate is 20%, while basic-rate taxpayers are subject to a rate of 10%. However, the rate is higher for gains on residential property, which are taxed at 28% for higher-rate taxpayers and 18% for basic-rate taxpayers.

What expenses can I claim as a landlord

Why should you use an accountant for your Capital Gains Tax?

There are also a number of exemptions and reliefs available for certain types of assets. For example, gains on personal possessions worth less than £6,000, cars, and lottery winnings are exempt from CGT. Business Asset Disposal Relief (previously called Entrepreneur’s Relief) provides a lower rate of CGT (10%) for individuals who dispose of their business or shares in their company when certain conditions are met.

If an asset is transferred as a gift, there may still be a CGT liability if the asset has increased in value since it was acquired. In this case, the person making the gift is responsible for paying any tax due.

CGT is self-assessed, which means individuals must calculate and report their own gains to HM Revenue & Customs (HMRC) using the Self-Assessment tax return system. It is important to keep records of all transactions and expenses related to the sale or disposal of an asset, as these may be used to offset any gains made.

Accounting consultation

How does the Capital Gains Tax Return service work?

It’s as easy as 1,2,3

Once you have bought the service you :

  1. Answer all the questions on the questionnaire and return it to us (email is fine!)
  2. We’ll produce your tax return and send it to you for electronic signature
  3. Once it’s signed we’ll submit it to HMRC for you

You can then relax and concentrate on something better than tax!

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