Capital Gains Tax in Quintrell Downs

Get in touch

Capital Gains Tax Advice in Quintrell Downs

At The Tax Advisors, we offer expert Capital Gains Tax (CGT) services to help you navigate the complexities of the tax system.

As professional and affordable tax accountants based in the UK, we ensure you meet your tax obligations efficiently and without stress.

We’ll cover everything you need to know about Capital Gains Tax, including key areas where CGT applies, how it's calculated, and answers to frequently asked questions.

Get in touch

What is Capital Gains Tax?

Capital Gains Tax (CGT) is a tax on the profit you make when you sell or dispose of an asset that has increased in value. It’s crucial to understand that this tax is only charged on the gain—the difference between what you paid for the asset and what you sold it for—rather than the total amount of money received.

Key Areas Where Capital Gains Tax Applies

If you’re a UK resident, you may be liable for Capital Gains Tax when you sell or dispose of certain assets. This includes:

  1. Property: When selling a second home, buy-to-let property, or land that isn’t your primary residence.

  2. Investments: Disposing of shares, bonds, or other financial instruments.

  3. Business Assets: Selling part or all of your business or business assets.

  4. Personal Possessions: Selling valuable items worth over £6,000, such as artwork, antiques, or jewellery.

How is Capital Gains Tax Calculated?

When selling assets, it's essential to understand that this transaction can trigger Capital Gains Tax obligations. To calculate CGT, follow these steps:

  1. Determine the gain: Subtract the original purchase price (including any associated costs) from the selling price (minus selling expenses).

  2. Apply any reliefs or exemptions: Several allowances and reliefs are available, such as the Annual Exempt Amount (£6,000 for individuals in 2023/24) and Private Residence Relief for your main home.

  3. Apply the tax rate: The CGT rate depends on your income tax band—18% or 28% for residential property and 10% or 20% for other assets.

Common FAQs About Capital Gains Tax

1. Who needs to pay Capital Gains Tax?

If you're a UK resident and you sell or dispose of certain assets, you may be liable for CGT. Non-residents may also need to pay CGT on UK property sales.

2. What assets are exempt from CGT?

Assets such as your primary residence, personal cars, and ISAs (Individual Savings Accounts) are typically exempt from CGT.

3. When do I need to report and pay Capital Gains Tax?

You must report CGT in your Self-assessment tax return. For UK property sales, CGT must be reported and paid within 60 days of the sale.

4. Can I reduce my Capital Gains Tax bill?

Yes, through careful planning and by utilising available reliefs such as Entrepreneurs' Relief, Gift Hold-Over Relief, and Private Residence Relief.

How The Tax Advisors Can Help You

The Tax Advisors specialise in providing comprehensive Capital Gains Tax services to ensure you comply with UK tax laws while minimising your liability.

Whether you are selling property, investments, or business assets, we can help you accurately calculate your CGT obligations, ensuring that all possible reliefs and exemptions are applied.

By strategically planning your asset sales, we can help reduce your Capital Gains Tax liability, saving you money in the long run. We also ensure that all CGT obligations are accurately reported, keeping you in good standing with HMRC.

Why Choose The Tax Advisors?

At The Tax Advisors, we are dedicated to providing affordable, high-quality tax advice tailored to your specific needs. Our team offers:

  • Professional Expertise: With years of experience in UK tax law, we are well-equipped to handle your Capital Gains Tax requirements.

  • Affordable Services: We pride ourselves on offering competitive pricing without compromising on the quality of our services.

  • Personalised Advice: We understand that every client's situation is unique, so we tailor our services to meet your individual needs.

Conclusion

Understanding and managing Capital Gains Tax doesn’t have to be complicated.

With The Tax Advisors by your side, you can ensure that your CGT obligations are met efficiently and cost-effectively.

Whether you’re dealing with property, investments, or business assets, we’re here to help you navigate the process and minimise your tax liability.

Get in touch

We cover Quintrell Downs (Cornwall)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for capital gains tax
Malpas St Teath Bealsmill Drym Gwills Treswithian Downs Trewint Buttsbear Cross Currian Vale Mount Hermon Perranwell Seaton St Merryn Summercourt Mulberry Carminow Cross St Winnow Hendra Porthtowan Treyarnon Rosenannon Hay Carclew Plain-an-Gwarry Trevowah Menadarva Carzantic Trematon Castle Viscar Trerulefoot Penryn Church Coombe Trevarrack Gooseham Mill Two Burrows North Corner Wall East Tuelmenna Rosudgeon St Erney Newtown Higher Bal Kelly Goonhavern Porth Kea Fernsplatt Zelah Treveor Tregorden Treknow Carlidnack Leedstown Seworgan Pempwell Treburrick Rezare Lockengate Rosehill Carne Molinnis Drakewalls Blowinghouse Cargreen Pensilva St Dennis Godolphin Cross St Michael Penkevil Treworld Rockhead Mountjoy Foxhole Penpoll Tregony Tywardreath Highway Coverack Bridges Thorne Bolventor Coombe Porthilly Pencuke St Columb Minor Bolitho Kestle Mill Widemouth Bay Otterham Gummow's Shop Tubbs Mill Chacewater Porthhallow Polpeor Higher Boscaswell St Agnes Trefanny Hill Demelza Cutmere Plain-an-Gwarry Jacobstow Creegbrawse Trehemborne Penwartha Davidstow Old Kea Lower Clicker Weir Quay Lambourne Drawbridge Helston Water Dunslea Ponsanooth Scredda Porthleven Bridges Lower Trebullett Vellanoweth Boquio Penhale Jakes Nanquidno Killivose Grumbla Longstone Carbis Trevellas Bolingey Botallack Wheal Busy Maudlin Kilhallon Boscoppa Puddle Perran Downs Constantine Carthew Rosevine Pillaton Mount Lerryn Boswyn Probus Biscovey Three Hammers Tolborough Killaworgey Cross Hill Tremorebridge Menna Polperro Shutta Polmear Tredethy Constantine Bay Illogan Highway Manhay Germoe Trenance Cox Hill Kingbeare Carn Towan Trelew Dutson Connor Downs Chilsworthy Toldish Trythogga Boswednack Paynter's Cross Releath Perrancoombe Penbeagle Trewey Silverwell Lower Mill Engollan Goonown Newquay Tredinnick Gweek Dizzard Bodieve Polzeath Rame Trelash Trewartha Ball St Ive Burgois Carclaze Polgooth Mawnan Gwennap Mawnan Smith Tredavoe White Cross St Clement St Anthony-in-Meneage Penhalvean Botternell Tregunna Pantersbridge St Just Blunts Port Quin Bocaddon St Minver Rinsey Croft St Mewan Treforda Penstraze Sheviock Fonston Tregada Anderton Beeny Nanpean Sithney Common Trengune Ruan High Lanes Phillack Skinner's Bottom Charlestown Kelynack St Blazey Rising Sun Roskear Croft Penmarth Knightor Treven Kea Colan Criggan Chyanvounder Higher Town St Veep Maryfield Boslymon Antony Whitewell Gwedna Welltown St Dominick Bowling Green Veryan Green West Portholland Hallworthy Twelvewoods Burras Higher Tremarcoombe Troon Quethiock Treviscoe Bridge Tresowes Green Penhalurick Helland Threewaters Crow's Nest Gwinear Tredinnick Trevenen Ninnes Bridge Tregajorran Curgurrell South Wheatley Carpalla Doddycross Billacott Treworrick Windmill Higher Porthpean Woodford Rosemergy Trescoll Portloe Gorran Churchtown Copthorne Perranuthnoe Trewellard Looe Mills Treworlas Carnhot New Downs St Stephens Resugga Green Fenton Pits Penrose Ashton Vogue Padstow Four Lanes Tresmeer Degibna Treningle Fraddon Bakesdown Landulph Lanjeth Tregoss Southcott Towednack Hayle Stibb Trewithian Notter The Towans Tolvaddon Downs Porthallow Halgabron Rock Polmorla Bissom Indian Queens Boscean Tregreenwell Truro Penelewey Badharlick Tresarrett Tredinnick Roseland Lower Menadue Lelant Downs Sparnon Gate New Polzeath Saltash New Mills Helston Bethany Amalebra Retallack Withielgoose Mills Newbridge Stennack Butteriss Gate Polgigga Chyvarloe St Blazey Gate Kerthen Wood Trewint South Tehidy Plaidy Gwavas Mena Sennen Cove Merther Tredrizzick Coldvreath Porthmeor Plusha Park Dunveth Berriowbridge Bennacott Lower Croan Sweetshouse Stoptide Penhallow Crowntown Broadlane Talland Trerise Drift Trehan Tencreek Penare Boscadjack Medlyn North Darley Trematon St Just in Roseland Common Moor Woolley Heamoor Haye Fm Treskilling Budge's Shop Cooksland Carwynnen Trevarrian Trewethern Lezant Tregorrick Bosoughan Truscott Maxworthy Middlehill Zoar Praa Sands Bilberry Calstock Milltown Ruthvoes Hellandbridge Tresoweshill St Keyne Treskinnick Cross Pityme Nancemellin Bodinnick Carne Carleen Lower Rose Flexbury Merrymeet Tregardock Duloe Gwenter Hatt Trewennack Milcombe Rejerrah Bodellick Wherry Town Burraton Coombe Downderry Wanson Playing Place Trelion Trevarrick Portscatho Frogpool Blackwater Cawsand Tresinney Kingsand Tregarland Mount Charles Costislost Tregellist Idless Poltesco Treleigh Treworga St Mellion Goonhusband Carfury Wheal Rose Clerkenwater Townshend Laddenvean Sithney Victoria St Martin Hendra Trevalgan Rescassa Perranporth Longstone Tredinnick Egloshayle Hornick Trevelver Halton Barton Carharrack Bossiney Plushabridge Gracca Lodge Hill Trefrize Grimscott Boskenna Tideford Cross Polruan Sheffield Trevithal Box's Shop Rosehill Penpethy Trelissick Jolly's Bottom Carzise Downgate St Mabyn Trevena Rosecare Lamorran Slaughterbridge Trebilcock Gwavas Highertown Roche Lank Merther Lane Antony Passage Ellenglaze Treverbyn Perran Wharf Barkla Shop Trenewan Mount Charles Penhale Insworke Rescorla Great Bosullow Prospidnick Gollawater Pengover Green Helscott Plain Street Cadgwith Baldhu Trezaise Trillacott Torfrey Hessenford Newmill Buryas Br Gunwalloe Fishing Cove Torpoint Threemilestone St Day Darite Gang St Stephen Tremayne Warbstow Trevowhan Penrose Hill Trevanger Canonstown Treal Burraton Cripplesease Polmarth Brill Carloggas Bosleake Highway Tregamere Amalveor Tolcarne Bowling Green Doublebois Brooks Crimp Beacon Trethowel Treviskey Georgia Percuil High Cross Perranwell Station Highercliff Cross Coombe Hendra Corgee Polbrock Coombe Todpool Penmayne Busveal Coswinsawsin Downinney Goldsithney Carne Longdowns Trenoon United Downs Praze-an-Beeble Tregarne Grampound Road Boduel Hillhead Petherwin Gate Carluddon Tregolls Dunmere Chynoweth Langore Tresean Canworthy Water Bodwen Penhallick Tregurtha Downs Turfdown Trewollock Bethel St Anthony Hersham Noonvares High Lanes Radnor Tresparrett Posts Forder West Looe Trewethen St Pinnock Bohortha Cross Lanes Garker Polborder St Kew Mousehole Banns Paynter's Lane End Week St Mary Croft Mitchell Lowertown Callington Pendrift Trenwheal Goonvrea Bathpool Goonlaze Luxulyan Perranzabuloe Menagissey Bissoe Ponsongath Forrabury Pennance Poniou Carnyorth Millpool Shop Tolskithy Coombe Treburgett Porkellis Lanescot Cury Pendeen Greensplat St Newlyn East Trevia North Tamerton Porthgwarra Gunwalloe Prussia Cove Perranarworthal St Allen Farms Common Joppa Trenance Hale Mills Crean Lower Woon Gerrans Chapel Lower Porthpean Reen Manor West Downs Quoit Newbridge St Tudy Bottoms Higher Condurrow Treswithian Burniere Polmassick Mineshope Sellan Stratton Carkeel St Eval Newtown-in-St Martin Mellangoose Trenant Trelan Halwin Congdon's Shop Trebeath Watergate Whitecross Tremethick Cross Little Bosullow Troan Bolenowe Crahan Polladras Michaelstow Mitchell St Gennys Porth Navas Gulval Trebartha Tregear Shortlanesend Southdown Stursdon London Apprentice Dimson Kenwyn Coppathorne Mawgan Porth Treforda Lower Woodley North Petherwin Trevadlock Tregrehan Mills Trethewell Lostwithiel Kilkhampton Comford St Ives Wilcove Cremyll Gwallon Come-to-Good Bangors Tregew Perranwell Ruan Minor Lane Hendra Trewennan Daw's House Launcells Cross Foundry Fletchersbridge Carey Park Ventongimps Winnard's Perch Curry Lane Sharptor Halabezack Looe Lower Boscaswell Longrock Bowithick Launceston Troswell Camborne Trequite Connon Hendra St Kew Highway Seaureaugh Moor Trebarber Trevine Calloose Burnthouse Nancegollan Talskiddy Helford Lawhitton Maders St Wenn Morwenstow Kents Roskorwell Millpool Gluvian Kehelland Trebullett Reawla Upton Cross Newbridge Paul Trekenner Callestick Leburnick Newtown Trenoweth Mawla Edmonton Carnon Downs Veryan Tresavean Tregadillett St Austell Dobwalls Clowance Wood Mullion Cove Chenhalls Golberdon Trenay Trewoon Forge Trethevey Whipsiderry Copperhouse Bridgend Trevoll Tremedda Treen Ladock Tolcarne Tregatillian Fowey Polwheveral Warleggan Chapel Town Three Holes Cross Lewannick Herodsfoot Lantuel Wenfordbridge Mulfra Boyton Delabole Horsedowns Helford Passage Kersbrook Cross Frogwell Trussell Tregeare Tolcarne Wartha Bray Shop Tregonning Rosenithon Wheal Baddon Treburley Retire Higher Tolcarne Upton Budock Water Devoran Old Park Trewalder Trewassa Venterdon Cutmadoc Towan Roseworthy Mixtow Kestle Treveal Mabe Burnthouse Old Mill Trewarmett Nantithet St Ervan Tideford Mongleath Nancledra Penpol Treburgie Sladesbridge Carn Arthen St Ewe Barcelona Tregurrian Chynhale Burlorne Tregoose Highertown Portreath Black Rock Laneast Stenalees Halsetown Harlyn Trebyan Porth Rilla Mill Eggbeare Towan Cross Trewetha Lanner Coxpark St Neot Great Tree Higher Cransworth Hewas Water Marshgate St Ive Cross Brent Moorswater Goonabarn Lamanva Lower Tregunnon Pentire Treskerby Lower Bodinnar Castallack Hugus Newport Ruan Major Gonamena Trevorrick Altarnun Piece Norris Green Little Petherick Treverbyn Penrose West Curry Hendra Quintrell Downs Penponds Tregavarah Trevigro St Levan Rose-an-Grouse Wringsdown Porteath Menherion Lanteglos Highway Wearde Treslothan Pentewan Newlyn Enniscaven Trelill Bareppa Hannafore Roscroggan Lamorna Wendron Rosevear Twelveheads Philleigh Trevail Balnoon Trethillick West Youlstone Mount Pleasant Treloquithack Tramagenna Trehunist Brocton Greenwith Common Bealbury Mullion St Germans Manaccan Tregona Sandylake Kenneggy Trevalga Tywardreath Darleyford Cusgarne Penwartha Coombe New Mill Boswin Trevone Cubert Higher Bojewyan Addington Tresillian Collamoor Head Lamellion Mingoose Rosewarne Tregoodwell West Tolgus St Clether New Downs Lower Treworrick Treliske Middle Crackington Trewen Trewen Trethosa Goon Piper Week Green North Hill Bodiggo Rosevean Pelynt St Jidgey Treligga Monkscross Gooseham Row Falmouth Kelly Bray Helebridge Poundstock Three Burrows St Stephens Mithian Keybridge Tregarlandbridge Sweets Angarrack Rame Trevance East Looe Maenporth Crumplehorn Rumford Redmoor Roseworthy Clubworthy Tuckingmill Trencreek South Pill Raginnis Ponjeravah Balwest Porthcothan Manor Parsley Cold Northcott Trewornan Trussall Trenear Lelant Trevarren Treator Polgear West Pentire Lanivet Fraddam Larrick Crosstown Kenneggy Downs St Buryan Harcourt Otterham Station Trezelah Fentonadle Pengelly Sancreed Sticker Penhallick Braddock Caroe Porthcurno Hendra Gorran High Lanes Trevarth St Breock South Petherwin Truthan Tremore St Issey Carloggas Horningtops Northcott St Endellion Carnkie Croanford St Michael Caerhays Breage Carnhell Green Woolston Trispen Trevegean Lanreath Trebudannon Ladycross Mylor Bridge Port Isaac Trelowth Nine Maidens Downs West Watergate Trethellan Water Dinas Coombe Lower Brynn St Ruan Calenick Cockwells Sennen Cardinham Tredannick Pipers Pool Tregullon Rillaton Lezerea Dannonchapel Trevilder Mellingey Lanlivery Fivelanes Mount Ambrose Merry Meeting Brazacott Trembraze Parkengear Treliver Helstone Scarcewater Torrpark Sparnon Trew Paul's Green Nance Bokiddick St Gluvias Trenhorne Golant Carthew Relubbus Sandplace Skewes Nanceddan Upton Crelly White Cross Belowda Woon Trewindle Penwithick Lowertown Shortacross Hendrabridge Polpenwith Wheal Kitty Tremar Polyphant Boskednan Henwood Temple Bohetherick Charaton Cross St Breward Deveral Timbrelham Trerose Trencrom Lynstone Illand Trenant Coad's Green Herniss North Beer Ludgvan Carn Brea Village Crantock Liskeard Botusfleming Roseworthy Barton Hallew Pool Tregidden Crowlas Yeolmbridge Treween Carnebone Budd's Titson Trevilson Parc Erissey Trewoon Netherton Shop St Erth St Erth Praze Portwrinkle St Hilary East Taphouse Stepaside Bridge Linkinhorne Bofarnel Trevilla Flushing Stencoose Trendeal No Man's Land Church Cove Blisland Tremail Redruth Downgate Lansallos Reskadinnick Carnsmerry Port Gaverne Burlawn Waterloo St Erme Tregadgwith Gam Trebarwith Strand Higher Menadew Penpont Luckett Stithians Tomperrow Treninnick Ventonleague Cocks Maer Harrowbarrow St Columb Major Levalsa Meor Pont Boswinger Pengersick Latchbrook Wheal Frances Lower Amble Meaver Lane-end Cannalidgey Boscreege Coverack Catchall Mount Hawke Trethewey Ruan Lanihorne Salem Bradford Chycoose Highlanes Kerris Feock Eastcott Thurdon Middlewood Lesnewth St John Hick's Mill Kennards House Gloweth Watergate Trevemper Gwithian Trevanson Trewidland Tremaine Holmbush Bosporthennis Lanteglos Angarrick Green Bottom West Taphouse St Keverne St Mawgan Madron Gilbert's Coombe Hellesveor Carlyon Bay Red Post Grillis Tregatta Treveighan Trevescan Werrington Crafthole Sithney Green Lanstephan Trebarwith Truthwall Middle Taphouse Melinsey Landrake High Street Black Cross Muchlarnick Bodmin Portmellon Bodilly Tresparrett Trenance Kerley Downs Bridgetown Coldharbour Caradon Town Gorran Haven Scorrier Millook Ruthernbridge Sea Mills Trenerth Milltown Boslowick Church Town Penberth Whitecross Tredaule Grampound Lantyan Carnkie Cowlands Blue Anchor Carthamartha Egloskerry Rinsey Par Tresamble Crowan Morval St Martin Calvadnack Gillan Rosedinnick Pengegon Broad Lane North Country Trebell Green Paramoor Polbathic Gwinear Downs Cambrose Trekeivesteps Creed Zennor Minions Wheal Alfred Illogan Gothers Penhale Tregeseal Nancenoy Carbis Bay Goon Gumpas Mevagissey Halvosso Portlooe Newton Washaway Tregonna Rose St Lawrence Camelford Bush Barripper Crugmeer Narkurs Cusveorth Coombe Park Bottom Whitstone Withiel Valley Truckle Knightsmill Readymoney Trevenen Bal Allet Lamorick Churchbridge Marhamchurch Hendra Croft Pencarrow Tresawle Mithian Downs Traboe Treen St Columb Road Inchs Whitecross Wadebridge Penpillick Castle Gate Crackington Haven Trelowia Trelights Pennytinney Trekenning Garras Restronguet Passage Bude Treworthal Trevelmond Crofthandy Rosewarne Trethurgy Penzance Mayon Saveock Mount Carnkief Treverva Peterville Warbstow Cross Flushing Gunnislake Crows-an-wra Stoke Climsland Newmills Penweathers Higher Larrick Splatt Tintagel Trenance South Hill Morvah Mornick Higher Downs Parkfield Pendoggett Tregarrick Mill Portholland St Ann's Chapel Comfort Trewoodloe Laity Moor Truas Old Cardinham Castle Churchtown Bishop's Quay Trewint Coombe Westdowns Tilland Trevenning Higher Land Millendreath Palmersbridge Widegates Mawgan Pengold Downhill Treath St Mawes Tredinnick East Portholland Wainhouse Corner Tolgus Mount Goonbell Pencoys Varfell Bugle Tutwell Holywell Tregonetha Treesmill Tresevern Croft Millbrook Redtye Lizard Badgall Nanstallon Lower Ninnes Grade Lamledra Menheniot Porthoustock Coombe Chapel Amble Tregonce Mylor Churchtown Durgan Rosemelling Splatt Treneglos Polkerris Tuckingmill Brea Trenarren Brunnion St Enoder Higher Crackington Latchley Marazion Whitemoor Metherell Withielgoose Freathy Tresawsen Halamanning Coxford Brighton South Carne Couch's Mill Trebetherick Trewartha Lanjew Trescowe Terras Lower Denzell Little Comfort Boscastle Edgcumbe Brane Marazanvose Lavrean Hendraburnick Berepper Chyandour Poughill Bodelva Kuggar Treskillard Clapper Trewithick