Capital Gains Tax in Coddington

Get in touch

Capital Gains Tax Advice in Coddington

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 Coddington (Herefordshire)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Barons' Cross Riddle, The Woolhope Stretford Court Woonton Garway Hill Ham Green Middleton on the Hill Flintsham Whitechurch Maund Grittlesend Stoke Hill Upper Maes-coed Auberrow Linton Bredwardine Fownhope Tumpy Lakes Strangford Munstone Marlas Croft Bishops Frome Lower Town Wharton Buckton Green Lane Five Bridges Brinkley Hill Whitchurch Brierley Highway Newton Mordiford Checkley Callow Hill Eastnor Eardisley Leinthall Starkes Upton Crews Much Birch Meadow Green Elton's Marsh Marlbrook Staunton on Arrow Abbey Dore Newton Vowchurch Marston Stannett Old Gore Lower Hergest Swainshill Bodenham Moor Bishon Common Merbach Enmore Field Letton Old Wharf Pencombe Dancing Green Collington Twyford Common Halmond's Frome Callow Nextend Aston Upper Grove Common Tyberton Stagbatch Cockshoot Moor Park Titley St Weonards Lyne Down Hereford Hope under Dinmore Wacton Birtley Perton Catley Southfield Stockton West Town Elms Green Grove Wootton Goose Pool Sollers Hope Wylde Norbridge Wilson Wofferwood Common Yarsop Aston Ingham Sallys Breinton Common Parton Lingen Tillington Aylton Warham Berrington Green Lower Grove Common Holywell Thornbury Lower Hardwick Stoke Edith Haven Lower Todding Yarkhill Bartonsham Colwall Lower Lye Wolferlow Netherton Pow Green Haven Dinedor Ledbury Uphampton Ashfield Kinnersley Little Dewchurch Bradlow Holmer Little Merthyr Walker's Green Forge, The Yazor Upper Hardwick Llangrove Clouds Stanford Bishop Sutton St Nicholas Orcop Hom Green Ashton Fine Street Sutton Marsh Dinedor Cross Floodgates Golder Field Grendon Green Chickward Marston Kiln Green Dilwyn Birchend Even Pits Litmarsh Rudhall Llanwarne Edvin Loach Blackmarstone Burghill Sellack Broad Oak Elsdon Peartree Green Clodock Almeley Wootton Lower Southfield Putley Cobhall Common Acton Green Marlow Lyonshall Stocking King's Acre Byford Common Hawkersland Cross Bicton Holme Marsh Newton Putley Common Eyton Peterchurch Kingsfield Common Hill Bromyard Downs Llancloudy Burley Gate Blakemere Eau Withington Moccas Broad, The Linton Hill Ullingswick Stoke Lane Tidnor Weobley Marsh Kenchester Dormington Huntington Ocle Pychard Munderfield Stocks Brimfield Rowlestone Staplow Brampton Abbotts High Lane Crocker's Ash Lea Sapey Common Kilpeck Linley Green Little Birch Edwyn Ralph Bridge Sollers Lulham Pontrilas Clencher's Mill Monkhide Didley Burrington Ballingham Ashperton Credenhill Lower Harpton Much Cowarne Byton Upper Colwall Castle Frome Bycross Stoke Prior Wormbridge Common Broadway Lands Preston on Wye Wigmore Paradise Green Priory Wood Pontshill Preston Wynne Greytree White Cross Cross Keys Upper Egleton Shelwick Green Mortimer's Cross Eastwood Bodenham Kingsland Sapey Bridge Lower Maes-coed Amberley Much Dewchurch Lawton Wyson Lane End Portway Bacton Winnal Common Pencraig Cockyard Pikestye Aymestrey Steen's Bridge Golden Valley Pen-y-Park Arrow Green Garway Humber Coughton Kymin Norton Canon Cusop Pixley Wood End Hinton Penrhos West Lydiatt The Rhydd Wellington Hardwicke Llangarron Thruxton Cock Gate Hildersley Kington Sunset Lea Line Lower Bearwood Ladyridge Sarnesfield Lugg Green Stretford Cornett Walterstone New Mills Coddington Welsh Newton Upper Hergest Woods Eaves Little Doward Wayend Street Hales Bank Bowley Town Merrivale Westhide Evesbatch Durlow Common Dorstone Kentchurch Aylestone Hill Nash Red Rail Kerne Bridge Perrystone Hill Batchfields Crizeley Hampton Park Mansel Lacy Westbrook Ballingham Hill Larport Westfields Grafton Hales Wood Lower Kinsham Nutfield Brilley Combe Moor Barnfields Penguithal St Owen's Cross Colwall Green Moors, The Combe Huntington Bosbury Upper Hamnish Upton Bishop Lower Buckenhill White Rocks Venn's Green Moorend Cross White Stone Bullinghope Stony Cross Lugwardine Hyde Eye Upper Town Adforton Staunton on Wye Eaton Docklow Michaelchurch Escley Yatton Portway Hopley's Green Rodd Hurst Lower Egleton Putley Green Stansbatch Bull's Hill Cross Llyde Moreton on Lugg Greenhill Fromington Hope Mansell Crozen Leominster Leintwardine Upper Lyde Harewood End Maund Bryan Bartestree Green Crize Covender Broomy Hill Eaton Bishop Bradnor Green Hatfield Upper Buckenhill Hagley Grendon Bishop Three Ashes Moorcot Mathon Gosford Munsley The Bage Rushock Clifford Shelwick Canon Frome Stowe Leinthall Earls Bridstow Whitney-on-Wye Upper Hill Phocle Green The Knapp Ganarew Shobdon Ebnall Turkey Tump Fox Hill Wootton Crumpton Hill Brelston Green Winforton Altbough Blacklands Burmarsh Brockmanton Brinsop Common Ledicot Broadmoor Common Stanley Hill Monmarsh Willersley Storridge Bleak Acre Cobnash Lower Breinton Bridge End Sollers Dilwyn Weston Wormbridge Felton Clehonger Bowley Flaggoners Green Newton King's Thorn Whitbourne Winnal Byford Walford Bush Bank Woonton Pudleston Rushall Loxter Little Gorsley Weobley Easthampton Field's Place Little Marcle Meer Common Kinton Crossway Prior's Frome Leys Hill Millhalf Wormsley Snodhill Upper Kinsham Widemarsh Bowley Lane Whyle Bredenbury Stoke Lacy Newman's Place Bagwyllydiart Grantsfield Horseway Head Middle Maes-coed Tarrington Common Crick's Green Wymm, The Allensmore Field Sutton Lakes Holme Lacy Shirl Heath Little Hill Chance's Pitch Richards Castle Bircher Falcon Coxall Marden Fromes Hill Monkland Crow Hill Aulden Beavan's Hill Churchfield Ross-on-Wye Orcop Hill Yarpole Pembridge Wellington Heath Hole-in-the Wall Brampton Bryan Tretire Hundred, The Wormelow Tump Woolhope Cockshoot Upper Lye Hungerstone Weaven, The Tupsley King's Caple Foy Fawley Chapel Pool Head Weston Beggard Brobury Bromsash Elton Poolmill Lower Welson Llanveynoe Marstow Bringsty Common Preston Marsh Ashley Moor Kingstone Barton Court Kivernoll Old Forge Risbury Stretton Grandison Brand Green Sugwas Pool Ewyas Harold Headbrook Brockhampton Stapleton St Margarets Orleton Common Turnastone Moreton Jeffries Newtown Saffron's Cross Letton Lyde Cross Stoneyard Green Moreton Birchall Gorsley Common Much Marcle Westhope How Caple Calver Hill Moorhampton Eign Hill Wilton Limebrook Byton Hand Tedstone Delamere Tudorville Urdimarsh Hamnish Clifford Upper Welson Middleton Veldo Carey Ruckhall Cradley Little Cowarne Rhydspence Longtown Stretton Sugwas Evendine Red Hill Bodenham Bank Mansell Gamage Swinmore Common Kimbolton Parkway Lower Burton Berrington Hill Gate Upper Broxwood Withington Madley Alder's End Birley Vauld, The Totnor Baysham Sellack Boat Bearwood Upper Dormington Tarrington Almeley Wynn's Green Rowland's Green Weston under Penyard Knapton Green Ludstock Glewstone The Fording Lower Bullingham Symonds Yat Hurstley Cholstrey Peterstow Pipe Aston Upper Breinton Vowchurch Common Lower Broxwood Treaddow Archenfield Putson Eardisland Tram Inn Aston Crews Whitton Acton Beauchamp Shutton Bromyard Pen-allt Stoke Cross Tillington Common Canon Pyon Foxley Kynaston Great Doward Fiddler's Green Kerry's Gate Upper Sapey Old Country Bringewood Forge Ryelands Little Hereford Munderfield Row Panks Bridge Luston Ruxton Newtown Shenmore Kingswood Shucknall Comberton Ruxton Green Bishopstone Craswall Burcher Bolstone Goodrich Howton Brinsop Cleaver, The Ridgeway Cross Kingstone Leysters Sutton St Michael Lucton Ford Little Tarrington Ivington Hunderton Dodmarsh Rodd Michaelchurch King's Pyon Stony Cross Hoarwithy Hampton Bishop Wynds Point Hillhampton Hope's Rough Westfield Gilfach Orleton Marsh, The Pipe and Lyde Franklands Gate Welsh Newton Common Beggars Ash Knill Upcott Clock Mills Callow Marsh Canon Bridge Colwall Stone Monnington on Wye Waller's Green Trumpet Tedstone Wafer Rotherwas Walford