Capital Gains Tax

Capital gains tax is a specialist and complex area of tax, so it is important to engage the services of an accountant that specialises in capital gains tax to advise you on it.

 Most property (other than cash in sterling) is an asset for capital gains tax purposes. If you are unsure if an asset you have sold is chargeable, please get in touch to arrange a free, no-obligation meeting with one of our capital gains tax specialists.

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 Our advisors have a wide range of experience in a number of areas, including:

  • Property
  • Land (including agricultural)
  • Chattels
  • Both share and asset business sales

 The above is not an exhaustive list – if you believe you may have a capital gain to declare, we can help.

Support

 As part of our service, you will be allocated a specialist capital gains tax advisor who will provide information and support throughout the whole process. We have put a number of steps in place to ensure the best and most timely advice is provided:

Step 1 – You will initially have a free, no-obligation meeting with your capital gains tax specialist, either face-to-face or remotely. They will go through your situation and any possible tax planning points that may be available to you. They will also provide a proposal which will include a fixed fee so you have absolute certainty on the fee you will be charged for our services.

Step 2 – If you are happy with the proposal, we will get in touch with a couple of documents for you to sign. We will also deal with the following if relevant to your capital gain:

  • Register you with HMRC.
  • If you are selling a residential property, we will provide a step-by-step guide of the process involved with the 30-day capital gain reporting requirement, including how to register with HMRC and the information we require.
  • If applicable to your capital gain, we will let you know of any tax planning opportunities open to you and the process of what needs to be implemented to ensure we reduce the capital gains tax payable.  
  • Correspond with HMRC on your behalf concerning any queries they have on the capital gain.
  • Your capital gains tax advisor will also provide you with a detailed list of the information they require to prepare your return.

Step 3 – We will prepare your tax return and other reports if required which will be sent to you for approval. We provide all clients with a clear summary of the following when sending out the reports:

  • Capital gains tax payable with details of how to pay.
  • A detailed calculation of the capital gain for your review.

Whether you live in Exeter, Edinburgh or anywhere in-between, our capital gains tax specialists will be able to help you.

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Would you like to know more?

Please get in touch to talk through your business requirements and start your journey with us.

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