Capital Gains Tax in Farleigh Wallop

Get in touch

Capital Gains Tax Advice in Farleigh Wallop

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 Farleigh Wallop (Hampshire)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Critchell's Green Hursley Kilmeston East Wellow Catherington Swanmore West Down Monk Sherborne Oakshott Totton Woodside Arford East End Medstead Heckfield Burgates Furzey Lodge Curdridge Kitwood Conford Chilbolton Down Whitehill Stubbington Buriton Clanfield Heathfield Itchen Stoke Gobley Hole Goodworth Clatford Bell Hill Moorgreen Southrope Winsor Newtown East Boldre Ragged Appleshaw Tipner Woodcott Denvilles Hightown Whitchurch Stony Batter Heather Row Harbridge Tadley Inhurst Clarken Green Barton on Sea Upper Slackstead Standon Batt's Corner West End The Frenches The Mint Pamber Green Frostlane Lower Daggons Hamble-le-Rice Lower Bullington North Weirs Hawley Lane Woolton Hill Rowner Stratfield Turgis Leigh Park Drayton North Warnborough Plastow Green South View New Town Brook Popley Barton Stacey North Street Colemore Hoe Gate Pylehill Lymore Mullenspond Weston Corbett Bidden Upper Wootton Hale Abbotstone Wheatley Rake Common Park Gate Plaitford Stuckton West Wellow Northam Liphook North Waltham Swelling Hill Overton Whitenap Little Ann Battramsley Cross Row Ash Soberton North Oakley Portmore Littleton Litchfield Glebe Ewshot Netley Marsh Petersfield Andover Down Ogdens The Mount Fulflood Hawkley Bisterne Outwick Nether Wallop Chilton Candover Cottonworth Lower Froyle Waterford Penwood Compton End Blacknest Lepe West Meon Woodlands Bishop's Waltham Hazeley Coxford St Giles's Hill New Alresford Lynch Blackdown Crawley Northney Cosham Dundridge Ashford Bramshill East Meon Blackfield Godwinscroft Kempshott Isington Hightown North End Golden Hill West Tisted Fyfield Sarisbury Wilsom Townsend Bagmore Spanish Green Pheonix Green Upham Brockenhurst Furzeley Corner Peel Common South Farnborough Bramshaw Fair Oak Laverstoke Wildhern Dunbridge Nursling Nashes Green Upper Farringdon Swarraton Couch Green Little Holbury Northington Weston No Man's Land Pucknall Boorley Green Brockhurst Cold Ash Hill Weeke Hampton Park East Woodhay Black Dam Lower Upham Bossington Stoke Hounsdown Ridge Common Bunstead Froxfield Green Kingston Wyck Cricket Hill Corhampton North Hayling Carter's Clay Upper Swanmore Upper Ratley Ramsdell West Town Eling Dunley Rye Common Newbridge Dry Hill Great Shoddesden Monxton Tufton Wigley Bashley The Butts Newton Valence North End Tichborne West End Bramshott Little Somborne East Anton Thruxton Sheet Bramley Green Little London Minstead Tye Lyde Green Waltham Chase South Town Finchdean Middleton Durley Street Shedfield Widley Green, The Hythe Charter Alley Northfields North Kingston Nutley Fisher's Pond Meon Hazeley Lea Rake Rockbourne Sholing Chilworth Hatch Cheriton Butt's Green Rushington Northbrook Shootash Sladen Green Mengham Freemantle Forton Winklebury Chidden Fratton Copythorne Applemore Axmansford Frithend Rowlands Castle Vernham Bank Wimpson Hilsea South Weirs South Wonston New Cheriton Ann's Hill Forest Gate Newnham Goose Green Three Ashes Lower Slackstead Blackhill Broughton Turgis Green Chalton Redbridge Faberstown Golden Pot Racedown Lower Turmer Burridge Hatchet Gate Ridge Ropley Soke Bishopstoke Sway Goose Hill Shalden Green Enham Alamein Empshott Lee Ground Ball Hill Hatch Warren Privett Everton Ladwell Heath End Pikeshill Bowyer's Common Hiltingbury Four Marks Wheat Hold Hartfordbridge Ropley Dean Pound Street Hoe Durrants Montgomery Lines Eastrop Newgrounds Soberton Heath Ashlett Stoner Hill Fleetend Sutton Scotney Red Rice Lower Bordean Ocean Village New Brighton Deane Upper Froyle Fair Oak Green Fullerton Itchen Abbas Baybridge West Common Langley Martyr Worthy Southsea Stockbridge Pondtail Anchorage Park Neacroft Merry Oak Bailey Green Soldridge Stroud Sherfield English Hillyfields Dean Flexford Knowle Wildern Bucklers Hard Spearywell Kimbridge North Houghton Kingsclere Hill Head Ibworth Funtley Alton Amport Frogmore Hambledon Eastoke Lower Brook The Straits Nately Scures Boldre Upper Clatford Wadwick Shirrell Heath Hollington Cross Longparish Dibden Up Nately Ashfield Pilley Halterworth Daneshill Binstead New Milton Gosport Wallington Soake Harbridge Green Holbury Harefield Church End Causeway North End Newtown Ashansworth Nursted Waterditch Portswood Lee-on-the-Solent Durns Town Sherborne St John London Minstead West Heath Swampton Langrish Crux Easton Up Green Pamber Heath Waterlooville Leckford Hatch Bottom Allbrook Tidpit Totford Newton Stacey Abbotts Ann Cliddesden Ovington Hill Brow Meonstoke Tilly Down North Baddesley Michelmersh Stoke Charity Broadgate Crondall Lower Swanwick Little Posbrook Ropley Griggs Green Wootton Lindford Testwood Redenham Portsea Stamshaw Cuckoo's Corner Picket Hill King's Somborne Binley Lynch Hill Earlstone Common Basingstoke Chilcomb Lowford Church Oakley Avon St Cross Bentworth Farnborough West Green Wivelrod Ripley South Baddesley Silkstead Lane End Thornhill Winnall Bank Privett Sandleheath Wherwell Sandford Hook Charlton Upper Burgate North Town Frenchmoor Browninghill Green Bassett Green Sydmonton Forton Upper Street West Liss Liss Forest Standford Lower Common Farlington Balmerlawn Monkwood Court Corner Horsebridge Dean Landport Shorley Avington Murrell Green Buttsash Hound Green Winslade Hartley Wespall Droxford Bickton East Green Burley Beacon Norleywood Catisfield Nutburn Hartley Mauditt Rownhams Vernham Dean Crockerhill Causeway Gilbert Street Cranbourne Powntley Copse Micheldever Preston Candover Lordswood Setley Little Shoddesden Holt End Church Crookham Old Netley Dogmersfield St Austins West Stratton East End Ellisfield Grateley Criddlestyle Pooksgreen Thorney Hill Hocombe Turmer Axford Steep Marsh Brock's Green Blendworth Hurstbourne Tarrant Popham North Gorley Mill Green Cupernham Rotherwick Wittensford Beauworth Upper Wield Worlds End Mockbeggar Whitway Heath End Fritham Brown Candover Newtown West Tytherley High Cross Kingsmead Holt Dipley Wimble Hill Newtown Fleet Little London Foulford West Leigh Littledown Ashford Hill Woodcot Moortown Itchen Dummer Twyford Hatchet Green Woodgreen Southampton Bransgore Wellow Wood Brighton Hill Sherfield on Loddon Warsash Keyhaven Durley Aldershot Burghclere Appleshaw Chilbolton Woodington Whitsbury St Mary Bourne Hill Park Linwood Highwood Newtown Selborne Clayhall Headley Stoke Common Oakridge Ecchinswell Bitterne Park Linkenholt Tunworth Knapp Steventon Mortimer West End Eversley Centre Pitt Alverstoke Birchy Hill Exbury Anthill Common Butlocks Heath Weston Common Cole Henley Ibthorpe Colt Hill Hillside Kents Oak Owslebury Sholing Common Emsworth Faccombe North End Southwick Oliver's Battery Smannell Romsey North Ripley Exton Quarley Denmead Freefolk Upton Grey Salters Heath Weston Patrick Stonehills Newtown Midanbury Water End Tiptoe Ellingham Weston Colley Shortheath Otterwood Colden Common Valley Park Mapledurwell Odiham Pamber End Woolston East Tytherley Vernham Row Farnborough Park East Stratton Shawford Clayhill Bridgemary Andover South End Blackwater Andwell North Street Broadmere Neatham Bramley Corner Milford on Sea Whiteley Bransbury Ham Green Canada Wymering Stonymarsh Furzley Damerham North Boarhunt Hazeley Bottom Old Portsmouth Cadnam Woodhouse Crookham Village Morestead Bisterne Close Eastland Gate Wolverton Common Ashurst Bridge Vernham Street Yateley Bramley Old Alresford Hammer Bottom Up Somborne Gore End Lower Ratley Netherton Burley Lawn Hawthorn Silchester Otterbourne Botley Plaitford Green Hordle Latchmere Green Herriard Fleetlands Hearn Chineham Deadwater Turkey Island Gundleton Highbridge Tote Hill Elson Headley Down Wecock Penton Grafton Horton Heath Palestine Over Wallop Easton Highfield Ramsdean Portchester Blissford Warren Corner Headbourne Worthy Woodley St Denys North Stoneham Harestock South Warnborough Eversley East Tisted Church Common Pound Green Hollington Lee West Meon Copnor Hunton Old Shirley Fordingbridge Hillpound Eastney Mill Lane Curbridge Bartley Houndmills Charlwood Picket Piece Wildmoor Hatt Hill Compton Wintershill Lasham Warren Corner Thornhill Park Heath Green Winchester Headley Fryern Hill Hollywater Dibden Purlieu Eastleigh Poulner East Aston Newtown Shipton Bellinger The Dene Rotten Green Oakhanger Hill Side Bordon Hinton Weston Marchwood Farnborough Street Clatford Oakcuts Lymington Foxdown Burghclere Common Hinton Ampner Sopley Grayshott Hardway Frogham King's Furlong West Ham West Heath Liss Belbins Boyatt Wood Flood Street Worting East Dean Bassett Coombe Toothill Old Burghclere Somers Town Sparsholt Langdown Lovedean Kimpton Highbury Hyde Ower Greatham Awbridge Lower Common Shirley Blashford Haughurst Hill Mattingley Linford Crampmoor Bishop's Sutton Leagreen Hardley Port Solent North Poulner Egypt Upper Bullington Gable Head Bowling Alley Stony Heath Newfound Lyndhurst Calmore Long Park Bucks Horn Oak Lower Burgate Red Hill Baffins Rushmere Farnborough Green Netley Hill Aldermoor Stratfield Saye Fareham Highclere Stonyford Furze Hill Newtown Abshot Stoney Cross East Oakley Upton Hook Park Upton North Charford Bashley Park Eversley Cross Middle Wallop Brown Heath Well Stoke Woodmancott West Worldham Knights Enham Greywell Ampfield Tangley Lane End West End Green Quidhampton Broad Oak Upper Enham Hillstreet Winchfield Clanville Bradley Passfield Hook Stanmore Weyhill Whitehall Lower Buckland Penton Mewsey Brook East Worldham Anmore Hazeley Heath Fawley Townhill Park Swanwick Westfield Martin Selsmore Milton Bar End Maybush Godshill Battramsley Barford Penton Corner Burley Street Crowdhill Ibsley Lower Farringdon East End Chandlers Green Breamore Portsea Island Timsbury Lockerley Compton Pardown Shirley holms Pennington Buckskin Hyde Rockford Emery Down Shobley Ratlake Bramdean Cove Hawley Woodlands Hatherden South Gorley Braishfield Bucket Corner Holt Pound Sleepers Hill East Liss Chilworth Old Village Broadoak Anna Valley Havant Boarhunt Hound Paulsgrove West End Dora's Green Hangersley Bursledon Holybourne Mead End Horndean Ossemsley Wonston Foxhills Walhampton Broad Layings Beckley Lord's Hill Brambridge Empshott Green Sandy Down Beech Egbury Bitterne Warnford Street End Kingsley Bentley Beaulieu Hurstbourne Priors Ashe Furzedown Burley Purbrook Walton Heath Ashurst Frogmore Bedhampton Upper Shirley Brockhampton Baughurst South Ham Sleaford Gosport Titchfield Park Hensting Bighton Bowling Green Kings Worthy Hartley Wintney Fox Lane Southington Warblington Mead End Custards Brockbridge Pilley Bailey Chandler's Ford Old Basing Filmore Hill Hannington Warnborough Green Long Sutton North Camp Downton Winchfield Hurst Upper Canterton Cowplain Netley Bull Hill Old Milton East Martin Brook Hill Oakley Kingston Shalden Crow Fair Oak Darby Green Newtown Wickham Titchfield Wootton St Lawrence Mottisfont Titchfield Common Peartree Green Cufaude Bleak Hill Stockheath Martin Drove End East Cholderton Farleigh Wallop Tapnage Ashton Rafborough Potbridge Hill Top Langstone Upper Common Prince's Marsh Houghton Chawton Hattingley Tot Hill Shirley Warren Fleet Southwood Lower Wield Blackmoor South Down Portsmouth Shirley Ringwood Abbots Worthy Ashmansworth Locks Heath Long Common Ashley Nob's Crook Millbrook Swaythling Northbrook Ashley Kingsclere Woodlands Hedge End Buckland Segensworth South Hayling Calshot Lower Pennington Steep Longstock