Capital Gains Tax in Oldshore Beg

Get in touch

Capital Gains Tax Advice in Oldshore Beg

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