Capital Gains Tax in Clashandorran

Get in touch

Capital Gains Tax Advice in Clashandorran

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 Clashandorran (Highland)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Leanach Fleuchary Piperhill Dallcharn Marybank Tournaig Latheron Annat Clachan Lochside Tornagrain Gearymore Thurso East Shandwick Knockglass Ardindrean Glen Bernisdale Hysbackie Horneval Duisky Warse Bridge of Brown Erbusaig Arnisdale Balchladich Fanellan Roag Achargary Aberchalder Gillen Culduie Westfield Polmaily Reay Aird /An Trislaig Pool Crofts Hilton Dunnet Balgown Corntown South Erradale Isauld Peinachorrain Inshes Laggan Aultivullin Gedintailor Cove Vatten Meoble Gairloch Hughton Blarmachfoldach Spittal Grudie Tote Culcharry Achachork Glendale Bailetonach Kilmaluag Ballachulish Achadh nan Darach Newfield Uig Gartymore Garros Reiss Upper Ardchronie Ardarroch Laide Ach'an Tobhair Cornhill Balmacara Square Arivegaig Culcabock Camaghael Achnacloich/Ach na Cloiche Ramscraigs Cawdor Leirinmore Kirkton Ardchronie Watten Kingsburgh / Cinnseaborg Croy Aberarder Culloden Cullicudden Balbeg Greallainn Reraig Kinlochewe Clachan Duntulm Inverfarigaig Knockarthur Kinnauld Kilmorack Knockan Tongue Kyleakin Foindle Ardintoul Londubh Migdale Acarsaid Drynoch Little Torboll Hill of Fearn Inchmore Mingarrypark Achavandra Muir Keiss Marybank Clachaig Polglass Dalneigh Struan Crask of Aigas Strone Croick Jemimaville Camasnacroise Achnasheen/Achadh na Sine Portnaluchaig Kingussie Blarnalearoch Upper Ollach Drummond Achalone Marishader D Peinaha S Tarbet Gairlochy/Ge Whitebridge Galtrigill Camas-luinie Kirtomy Mallaigmore Duncanston Oldshoremore Advie Feriniquarrie South Ballachulish Lealt Balnabruich Craigrory Tarskavaig/Tarscabhaig Badcall Hilton A' Chill Kincardine Glengrasco Upper Milovaig Dalchreichart Blairmore Annishader Roshven Balmore Ardmore Doune Dell Badluarach Torran Fortrose Pitgrudy Ormiscaig Clephanton Alvie Alcaig Camore Upper Badcall Sgeir Iosal Kilphedir Glackmore Crown Westhill Fiskavaig Glen Heysdal Balnapaling Lyne of Gorthleck Lednabirichen Bohenie Rosehall Kilmore Blackhill Sanachan Glenhurich Lower Dounreay Polbain Fort George Dublin Bundalloch Eilanreach Milton Tomich Struanmore Opinan Banavie Rootfield Peinmore Clachan Drumfearn/Druim Fhearna Gordonbush Loandhu Balnacoil Knockbreck Unapool Mallaig/Malaig Tolvah Culrain Sand Ardendrain Lagganlia Ellishadder Keistle Lephin Foyers Lochend Whiteface Lower Halistra Upper Lybster Drumchork Balnadelson Cabrich Nonikiln Swordly Gergask Cromarty Newton of Ardtoe Glaick Barbaraville Balmeanach Upper Tullich Ospisdale Kilvaxter / Cille a' Bhacstair Oskaig Achtoty Inveralligin Shiel Bridge Strathan Bunacaimb Artafallie Rough Haugh Hilton of Cadboll Ardery Sallachy Staxigoe Lybster Coul of Fairburn Invergordon Carbost Balgowan Ratagan Westford Lochanhully Scarfskerry Balavil Achuvoldrach Lower Milovaig Stoer Balmeanach Muir of Tarradale Calligarry Lothmore Claigan Ardcharnich Remusaig Arrisa Nedd Rockfield Crosskirk Clachtoll East Mey Spinningdale Borve Toscaig Linicro / Lionacro Coillore Dornoch Wester Gruinards Blackpark/A' Phairce Dhubh Corrimony Morar Rogart East Croachy Canisbay Dalfaber Kingsteps Fearn Marrel Roadside Strathpeffer Spean Bridge Inverlochy Mial Alltour Balintore Tressady Courteachan Hallin Branault Midfield Portgower Isleornsay/Eilean Iarmain Contin/Cunndainn Milton Bothan Nan Creag Bernisdale Bornesketaig / Borgh na Sgiotaig Maligar Shieldaig/Sildeag Kildary Skirza Carnachy Skye of Curr Ardheslaig Invergarry Eabost West Drumbuie Ardgay Alligin Shuas Lochardil Achintraid Torrin/Na Torrin Oape Teavarran Morangie Lower Pitkerrie Lochaline / Loch Dulnain Bridge Ramasaig Bilbster Prabost Cannich Inverguseran Bracara Ullapool Sconser Upper Halistra Breakish/Brecais Invermoidart New Mills Lednagullin Blain Hamaraverin Durness / Diuranais Nethertown Carnachuin Shielfoot Acharacle/Ath-Tharracail Tullich Muir Newport Newlands Poles Inverness Swordale Mountpleasant Drumuie Rosemarkie Resolis Kyle of Lochalsh/Caol Loch Ailse Drumguish Catlodge Fearnbeg Jamestown Janetstown Borrowston Dalness Kilchoan Teangue/An Teanga Kilmuir Badicaul Bunchrew Rhuvoult Tokavaig/T Bhaltos Ardroag Camault Muir Wester Aberchalder Edderton Attadale Coylumbridge Bogallan Achnacarnin Gaich Kilbeg Inchnadamph Ruthven Inverlair Skinnerton Ardaneaskan Onich Ardvasar/ Easter Aberchalder Pitmaduthy Lynchat Avernish Bettyhill/Am Bl Moss Insh Latheronwheel Kentra Milnafua Cromdale Highbridge Milton of Leys Suisnish Ryefield Eynort Satran Dalreavoch Scottas Skinidin Dunvegan Shieldaig Tain Scotstown Strathan Skerray Pittentrail Kingairloch / Ceann Ghe Oldshore Beg Kirkibost Merkadale Camusterrach Glenelg Kylesku Elgol Kirkstyle Kylestrome Ashaig/Athaiseig Aviemore South Garvan Portormin Achnairn Ruilick Altnaharra Lettermorar Broubster Easter Ardross Nigg Ferry Badnagie Craigton Charleston Peinmore Inverinate Lairg Muir Dalnabreck Achiemore Cul nan Cnoc Ullinish Eyre / Eighre Inshegra Corsback Suisnish Morefield Moll Armadale/Armadail Balnain Achosnich Kilmuir Swordale Smithstown Inverailort Gills Bunarkaig Gorstan Balblair Airdtorrisdale Broadhaven Kilmonivaig West Strathan Craigdarroch Letterfearn Dounie Baddidarach Ruigh'riabhach Fettes Culburnie Cleadale Heatherfield Modsary Arean Lochinver/Loch an Inbhir Rienachait Wester Arboll Brabsterdorran Cliff D Sarclet Papigoe Ardmolich Kentallen Balnakeil Craft Village Lochluichart Springfield Clashandorran Calder Mains Doll Glenmore Bonar Bridge Feorlig Sandamhor Logie Hill Ellan Redpoint Strontian/Sron an t-Sithein Evelix Garrachan Broomhill Skulamus/Sculamus Achnahanat Feshiebridge East Clyne Broadford/An t- Nostie Inchree Lentran Linsidemore Sluggan Achfrish Leckfurin Balchrick Balmacqueen Aultvaich Ranochan Lewiston Kerrow Garrafad Raggra Rhiroy Daviot Alltsigh Torgulbin Kinloid/Ceann an Leothaid Inveralivaig Glashvin Uig Newlands of Geise Backies Rhives Beechwood Embo Inversanda Carbost Fasach Airdens Eyre Kildonan Kilmuir Speybank Golspie Roster Kinbeachie Bower Balnabruach Dornie Eskadale Stromeferry Tarbet Inverkirkaig/Inbhir Chircaig Thrumster Inverchoran Leckmelm Lairg / An Luirg Langal Mugeary Cuidrach Rhenetra Bunavullin/Bun a' Mhuilinn Kirkhill Milton Dochgarroch Millcraig Badenscallie Bracadale Lothbeg Duror Kylerhea/Caol Reatha Fort William/An Gearasdan Anagach Gruids Beoraidbeg Kiltarlity Glaichbea Dalelia Achtalean Achaphubuil Idrigill Camastianavaig Cnoc Ruadh Burrigill Blackfold Skullomie Talmine Port Henderson Boat of Garten Grantown-On-Spey Caroy Strathcarron Nybster Torroble Balnakeil Ardmair Kinlochbervie Milton Ormsaigmore Lamington Balleigh Oldtown Brogaig Balnacra Tulloch Waterstein Melvaig Stronaba Talisker Upper Drummond Saval Ariundle Achfary Newmore Bilbster Mains Duisdalemore/Duisdeil M Balloan Aultiphurst Lower Badcall Harlosh Ackergill Lochside Saltburn/Alltan an t-Salainn Balintraid Badcaul Halkirk Dunan/An D Buldoo Trantlebeg Flodigarry Conasta Strathcoul Port M Bohuntinville Galmisdale Arisaig/Arasaig Mountgerald Achrimsdale Sheigra Leachkin Auchtercairn Totscore Achlyness Moss-side Struy Freswick Romesdal Galltair Rhitongue Portuairk Braal Castle Achininver Claggan Myrelandhorn Amatnatua Faichem Kilmory Ormsaigbeg Milton Lower Ollach Peiness Sangomore Windhill Helmsdale Kinloch Laggan Letterewe Dreggie Balgunloune Crathie Lochend Ferness Achnahannet Lower Gledfield Portvasgo Ockle Achintee Ardshealach Stromemore Duisdalebeg/Duisdeil Beag Clashmore Polloch Elphin Torness Roybridge Lower Drummond West Langwell Clachan Soyal John O' Groats Inverarish Digg Gorteneorn Applecross Portnalong Altass Talladale Corry Scamodale Kinlochleven Ballifeary Etteridge West Dunnet Peinlich Foregin Fasag Achnahuaigh Borgie Geary Ardvannie Upper Bighouse Easter Kinkell Torlundy Bruan Maryburgh Suledale Sanna Fiunary Moy Hall Errogie Achmore Laggan Skelpick Lower Arboll Navidale S Fersit Kilcoy Achmore Drummond Kensaleyre Strathy Whiterow Dalmore Big Sand North Erradale Bottacks Crask Camaghael/Cam Dhail Rhiconich Skinnet Badrallach Evanton/Baile-Eoghain Ardnagoine Hamaramore Alness Park Bernisdale Muie Feagour Ardnastang Ardelve Castletown Arpafeelie Nairn Newtonhill Camustiel Torrisdale Rychraggan Portmahomack Heribusta Airor Dunmore Durnamuck Sgoir Beag Braefindon Kildonan Reiff Achluachrach Ardnarff Torroy Craig Colbost Muirshearlich Ham Blandy Bay Heribost Tradespark Embo Street Braes of Ullapool Camascross/Camus Croise Penifiler Thurso Ardmore Ferindonald/Fearann Dhomhnaill Clashmore Balnaknock Knockfarrel Kendram Aird, The Clashnessie Kilmarie Ruisaurie Resaurie Second Coast Wick Totaig Auldearn Conon Bridge Fassfern/An Fasadh Fearna Earlish / Earlais Ulbster Poolewe Drimnin/Na Druimeanan Dingwall Uppat East Brora Deishar Crepkill Inverdruie Callakille Purlie Lodge Badachonacher Armadale Coldbackie Ardross Raddery Holmisdale Balvraid Arnish Uppertown Midtown Fisherton Balblair Di Ardtreck Littlemill Culbokie Lair Letters Totegan Ord/An t- Mid Clyth Drumnadrochit Killilan Swiney Incheril Balchraggan Rearquhar Duthil Dalchalm Balgown Toulvaddie Lubinvullin Mellon Charles Balchraggan Shulista Baramore Braemore Alisary Portneora Dalhalvaig Breckrey Lynwilg Corran Speybridge Garve / Gairbh Fanagmore Balmore Kinveachy Cantraywood Arabella Strone Lower Diabaig Brora Invermoriston Rhue Drumbeg Munlochy Brochel Uigshader Kilmuir Pollosgan Brough Camusnagaul Achgarve Carnach Lochailort/Ceann Loch Ailleart Badnaban West Clyne Mybster Corarnstilbeg Badninish Upper Diabaig Strath Garve / Srath Gairbh Dores Flashader Dorrery Tormore Stenscholl Dounie Drynie Park Balmeanach Roskhill Millnain North Kessock Heights of Kinlochewe Smirisary Culkein Drumbeg Scourie Upper Gills Rhicullen Portskerra Coulnacraggan Cuil Farr Trantlemore East Langwell Kalnakill Fort Augustus Droman Portree / Port Righ Newtonmore Achina Houstry Sangobeg Glenuig/Gleann Achriesgill Syre Belladrum Achiltibuie Skelbo Strathan Newton Skelbo Muir Croftnacriech Aonachan Scrabster Polnish Bohuntine Lonmore Pitcalnie East Suisnish Blaich Achreamie Dundonnell Hungladder Lochcarron Borrodale Abriachan Clunes Blairninich Tannach Achnacarry Little Town Lonemore Greenland Mains Tulloch Luib Lochyside/Taobh Lochaidh Totardor Smithton Heaste Firhill Ardgayhill Glensanda Littleferry Bunree Kinloch Hourn Borgue Berriedale Hilton Garrygualach Laga First Coast Edinbane / An t-Aodann Ban Highland Boath Druimarbin Sluggans Clovullin Kinloch Brenachie Linnie Nethy Bridge Killimster Kirkton Muir of Ord Bishop Kinkell Ord Carn-gorm Lonemore Druimindarroch Midtown Knott North Ballachulish Carrbridge / Drochaid Ch Tirryside Scoraig Glenfinnan South Clunes Inverie Torvaig Plockton/Am Ploc Janetstown Skerray Mount High Kinlochmore Barrock Clune Charlestown Slickly Kinloch Salen/An Sailean Kirkton Catchory Glenancross Glasnacardoch/las na Cardaich Achmelvich Conordan Bunkegivie Invershiel Milton Gortenfern Merkinch Solitote Bualintur Upper Feorlig Lower Breakish/Brecais Iosal Auchtertyre Fearnmore Bunloit Inverroy Mid Strome Strath Caol Clachnaharry Corran Obsdale Park Greep Londain Inver Anaheilt Rechullin Coulin Lodge Lochslin Waterloo/Achadh a' Chuirn West Helmsdale Drumsmittal Ardverikie Crofts of Kingscauseway Shebster Little Rogart Glasnakille Brae of Achnahaird Ardtoe East Strathan Invershin Croick Glenborrodale Kinmylies Hartmount Beauly East Helmsdale Coulags Birichen Bindal Harrapool/Harrapul South Cuil Invernaver Moy Ardachu Dalwhinnie Erchless Castle Balloch Alnessferry Borreraig Eabost Kinbrace Balgunearie Anancaun Invershore Mayfield Melvich/Mealabhaich Leacanasigh Achnaha Aultbea Avoch Drummuie Ardnagrask Lusta Glasphein Forsinard Kinlocheil Tomatin Drumuillie Newton Torridon Cuaig Glencoe Kinlochmoidart/Ceann Loch Muideirt Tore Stronchreggan Kenmore Mol-chlach Mellon Udrigle Westerdale Sortat Nigg Killen Ardersier Fodderty Culkein Bracorina Inveruglass Kincraig Millbank Achterneed Corpach/A'Chorpaich Brunery South Kessock Noss Ardullie Balmacara Dunbeath Rhilochan Ose Easter Boleskine Gansclet Brackrevach Farraline Upper Dounreay