Capital Gains Tax
How we can help
Our Capital Gains Tax advisers help you understand tax obligations when selling or disposing of assets that have increased in value.
We provide clear, tailored advice to ensure you pay only what’s necessary, while identifying exemptions and reliefs that could reduce your liability.
With our guidance, you can make informed decisions and plan effectively, giving you confidence that your tax matters are handled correctly.
Why it matters
You can significantly reduce the amount of Capital Gains Tax you pay, safeguard more of your profits, and make strategic decisions about the timing and structure of your asset sales.
Our guidance ensures you take advantage of all available exemptions and reliefs, while staying fully compliant with HMRC rules, giving you peace of mind and confidence in your financial decisions.
When to seek advice
It’s a good idea to seek advice on Capital Gains Tax before selling or disposing of an asset that may have increased in value.
Early guidance helps you plan effectively, take advantage of available exemptions and reliefs, and reduce your tax liability while staying fully compliant with HMRC rules.
FAQ
Which assets are subject to CGT?
You may need to pay CGT if you dispose of:
personal possessions worth over a certain threshold (excluding your car)
property that isn’t your main home, or your home in certain circumstances (if part of it is let out, or used for business, etc.)
shares (not held in tax‐efficient wrappers like ISAs or PEPs)
business assets
What are the exemptions & reliefs available?
You may reduce or avoid CGT through:
Annual exempt amount (a tax-free threshold on gains per year)
Private Residence Relief (for your main home, under certain conditions)
Business Asset Disposal Relief (for qualifying business disposals)
Offsetting losses from other disposals against gains
If I live abroad or partly abroad, do I still pay CGT in the UK?
Yes — there are rules about non-residents and disposing of UK property or land. Even if you are non-resident, you may need to report disposals of UK property.
What kind of costs can I deduct when working out a gain?
You can generally deduct:
the cost of acquiring the asset
costs of improving it (not just maintenance)
costs of disposing (broker fees, legal costs, etc.)
What happens if I make a loss?
Capital losses can often be used to offset gains in the same tax year or carried forward to future years, reducing the CGT you have to pay.
How can a tax broker (or specialist) help me with CGT?
Identify which reliefs or exemptions you qualify for (often complex in property, overseas, business disposals).
Assist with accurate calculations, claiming deductions and allowable costs.
Help with timing of disposals to maximise tax-efficiency (for example managing which tax year a disposal falls in).
Ensure you meet HMRC reporting requirements correctly (deadlines, documentation, filings).
Advise on structuring ownership (joint ownership, trusts, non-resident status) to mitigate CGT.
What are the penalties if I don’t report or pay CGT correctly?
Failing to declare or pay CGT can lead to HMRC investigations, interest charges on late payments, and penalties depending on how late or how serious the omission is. It’s best to ensure compliance to avoid extra costs.
Can I reduce CGT by transferring assets to my spouse?
Yes — transfers between spouses or civil partners are generally exempt from CGT. This can be a useful way to share ownership and make use of both partners’ allowances.
Speak with an adviser about Capital Gains Tax
Get in touch today to speak with our experts and ensure you pay only what’s necessary on your Capital Gains Tax.