Capital Gains Tax in Three Cups Corner

Get in touch

Capital Gains Tax Advice in Three Cups Corner

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 Three Cups Corner (East Sussex)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Ringles Cross Guestling Thorn Three Cups Corner Hampden Park Godleys Green Falmer Upper Dicker Selmeston Union Street Cade Street Upper Hartfield Cackle Street Hazard's Green Sparrow's Green Brighton Ripe Whitehawk Penhurst Broomsgrove Playden Bohemia St John's Rye Harbour Iford Tarring Neville Burgh Hill Wartling Preston Westfield Rusher's Cross Southover Upper Horsebridge Stone Cross Poundfield Strawberry Hill Wellbrook Hooe Norlington Steel Cross Westmeston Winton Maynard's Green Clive Vale Jevington Southover Wannock East Blatchington Foxhunt Green Hollingdean Boreham Street Best Beech Hill The Highlands Maresfield Four Oaks Herstmonceux Witherenden Hill East Dean Telham Lower Horsebridge Kemp Town Wych Cross South Chailey Wood's Green Polegate Sedlescombe Bardown Vinehall Street Hangleton Hollington Marle Green Beckley Furnace Birling Gap Laughton Common Canadia Henley's Down Marlpits Mount Pleasant Starr's Green Poundgate Chiddingly Argos Hill Foulride Green Framfield Bulverhythe Bodiam Hurst Green Town Littleworth Hove Peasmarsh Jarvis Brook Pevensey Bay Pett Level Cross in Hand Magham Down Stanmer South Malling Swaile's Green Catsfield Eason's Green Seaford Salehurst Trolliloes Duddleswell Brownbread Street Flowers Green Portslade Village Black Rock Broadland Row Hawkhurst Common Groombridge Silver Hill Exceat Churches Green Pebsham Beacon Down Rye Houghton Green Bevendean Sleeches Cross Upper Wellingham Turner's Green Hamsey Burwash Palehouse Common Marden's Hill Camber Mount Ephraim Silverhill Blackboys Teasley Mead Little Bayham Oxley's Green Alderbrook Fletching Fairlight Cove Jumper's Town Shover's Green Ginger's Green Piddinghoe Isfield Glynde Golden Cross Arlington Waldron Down Poundford Balls Green Flackley Ash Barcombe Cross Moulsecomb Cooper's Green Mile Oak Golden Cross Coggins Mill St Helen's Icklesham Furner's Green Mayfield Eckington Corner Heron's Ghyll Dittons Baldslow Aldrington Alciston Sweethaws Stunts Green Willard's Hill Broomham Wadhurst Etchingham Rye Foreign Crowborough Warren Little London Blacklands Davis's Town Chiltington East Hoathly Udimore Fairwarp Green Street Manor Park Boarshead Snagshall Plumpton Green Harbour Heights Bowler's Town Wickstreet Newhaven Five Ashes Mount Pleasant Chuck Hatch Northiam Ore Nutley Sheffield Green Heathfield Northbridge Street Park Corner Little Norlington Old Town South Street Lewes Peacehaven Shortbridge Castle Hill Barcombe Park Corner Berwick Tolhurst Bachelor's Bump Newbridge Folkington West Park Downside Wivelsfield Waldron Frant Potter's Green Fletching Common Grove Hill Hellingly Southease Warbleton St Leonards Westdene Muddles Green Winchelsea Chelwood Common Burnt Oak Birchden Chalvington Heathfield Charlwood Cackle Street Terrible Down Burgh Hill Cowbeech Summer Hill Sharpsbridge Mark Cross Rottingdean Lunsford's Cross Meads Little Common Cock Marling Beachlands South Heighton Ponts Green Flimwell Bells Yew Green Brightling Lyewood Common Brede Highgate Newick Netherfield Butcher's Cross Ninfield Pell Green Roser's Cross Willingdon Sutton Staplecross Stonegate Pevensey Roedean Friston Stone Cross Tidebrook Beckley Punnett's Town Withyham Broad Street Rushy Green Red House Common Holtye Lower Willingdon Windmill Hill Wood's Corner Pestalozzi International Village Mountfield Jury's Gap Hall's Close Russell's Green St Helen's Wood Uckfield Litlington Wivelsfield Green Silverhill Park Holmes's Hill Broad Oak Stone Cross Rockrobin Goatham Green Sidley Winchelsea Beach Lower Dicker Hammerwood New Town Whitehill Ford's Green Ashton Green Cackle Street Blackham Seacox Heath Three Oaks Roselands Mutton Hall Splayne's Green Lidham Hill Eastbourne Ditchling Earl's Down Sandy Cross Hooe Common North Chailey Durgates Gotham Belmont High Cross Quabrook Cooden Eridge Green Ticehurst Glyne Gap Danegate Horsted Green Old Town Chapman's Town Hastings Halland Withdean Berner's Hill Down Street Nash Street Guestling Green Ovingdean Horns Cross Chapel Cross Hollingrove Ewhurst Green Pound Green Tompset's Bank Catsfield Stream Mill Hill Norton Bodle Street Green Streat Coleman's Hatch Wilmington Sharp's Corner Hartfield Hailsham Mott's Mill Patcham Burlow Three Leg Cross Burwash Common Ridgewood Town Row Robertsbridge Etchingwood Hale Green Vines Cross Rushlake Green Forest Row Rocks Park Budlett's Common Laughton Westdean Turner's Green Milton Street Piltdown Crowhurst Norman's Bay Little Horsted Battle Danehill Pett Collier's Green Lower Street Offham Mark Cross Telscombe Cliffs Combe Old Heathfield Lye Green Ringmer Glenleigh Park Friar's Hill West Blatchington Buxted West Marina Tilsmore Alfriston Rotherfield Maresfield Park Dallington Dale Hill Gallypot Street Telscombe Whydown Bexhill Friar's Gate Watermill Saltdean Westham Cooksbridge Kingston near Lewes Rose Hill Whatlington Twelve Oaks Grisling Common Woodingdean North Moulsecoomb Five Ash Down West Firle Broad Oak Broyle Side Cousley Wood Old Town Foul Mile East Chiltington Peacehaven Heights Blackness Ashburnham Forge Langney West Hill Chitcombe Landport Rickney Glyndebourne Lions Green High Hurstwood Pounsley Plumpton Cowbeech Hill Shortgate Thunder's Hill John's Cross Mill Corner Coldean Horney Common Chailey Chelwood Gate Birchett's Green Wilmington Green Clayhill Bishopstone Whitesmith Hollingbury Denton East Moulsecoomb Hadlow Down Spithurst Darwell Hole Woodmans Green East Guldeford Chapel Row Burwash Weald Hankham Chilsham Rodmell Wallands Park Lower Cousley Wood Harley Shute Upperton Horam Steven's Crouch Caneheath Cliff End Cripp's Corner Fairlight Crowborough Firle Beddingham Iden Gun Hill Wallcrouch