Capital Gains Tax in Hose

Get in touch

Capital Gains Tax Advice in Hose

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 Hose (Leicestershire)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Misterton Peggs Green Blaby Knighton Fields Waltham on the Wolds Horninghold Potter Hill Norton-Juxta-Twycross Aston Flamville Frisby Spinney Hills Stoke Golding Allexton Shackerstone Thringstone Kirby Muxloe Coalville Great Stretton Sutton in the Elms Cosby Norris Hill Battram Measham Anstey Saddington Botcheston Broughton Lodges Tilton on the Hill Birstall Skeffington Swithland Thornton South Croxton Hunt's Lane Freeby Bringhurst Burton on the Wolds Barrow upon Soar Croxton Kerrial Belgrave Newbold Desford South Knighton Medbourne Glenfield Foxton Hinckley Kibworth Harcourt Ashby Magna Wigston Parva Loddington Sketchley Nether Broughton Worthington Kegworth Hoton Oakthorpe Owston Thurcaston Donington le Heath Stoughton Cotesbach Great Bowden Lowesby Smockington Ragdale Rearsby Osgathorpe The Valley Belcher's Bar Cold Newton Appleby Magna Somerby Bilstone New Swannington King's Norton Lount Whitwick Bottesford Crown Hills Normanton le Heath Lubenham Castle Donington Oadby Merry Lees King's Mills Glooston Knipton Dunton Bassett Barsby Cadeby Kirby Bellars Field Head Sewstern Welham Atterton North Kilworth Stockerston Cossington Care Village Groby Claybrooke Parva Highfields Tur Langton Stretton en le Field Shepshed Snibston Heath End Billesdon Clarendon Park Market Harborough Thrussington Bufton Ratcliffe Culey Elmesthorpe East Goscote Ashby Parva Aylestone Park Bushby Buckminster Stapleton Pickwell Ellistown Little Orton Barwell Wilson Melton Mowbray Knighton Prestwold The Brand Ravenstone Brentingby Thorpe Satchville Peatling Parva Little Bowden Pinwall Snarestone Saxby Harby Seagrave Clipsham North Evington Bagworth Queensway Old Dalby Scotland West End Slawston Littlethorpe Evington Bondman Hays Edmondthorpe Syston Quorndon or Quorn Whetstone Little Twycross Saxelbye Markfield Rothley Plain Queniborough Six Hills Wellsborough Shearsby The Cross Hands Beaumont Leys Eastwell Brooksby Ashby Folville Tonge Sapcote Fleckney Scotland Enderby Stoney Stanton Twycross Congerstone Nether Hall Husbands Bosworth Burbage Burrough on the Hill Smeeton Westerby Ratcliffe on the Wreake Rushey Mead Primethorpe Noseley Shawell Twyford Lutterworth The Woodlands Money Hill Redmile Foston Shenton Carlton Scraptoft Arnesby Holwell Farm Town Agar Nook Osbaston Coleorton Moor North End Moira Newbold Heath Wanlip Stonesby Muston Wistow Market Bosworth Church Town Eaton Blackfordby Frolesworth Kirby Fields Oaks in Charnwood Ratby Fenny Drayton Stanton under Bardon Spring Cottage Wartnaby Shangton Eyres Monsell West Langton Old Dalby Gilmorton Kibworth Beauchamp Ab Kettleby Illston on the Hill Belvoir Cropston Upper Bruntingthorpe Rolleston Keyham Claybrooke Magna Kirkby Mallory Braunstone Town Wykin Appleby Parva Kilby Bridge Peckleton Blaston Kimcote Narborough Hemington Wycomb Wymondham Newton Harcourt Goadby Marwood Long Clawson Stoneygate Asfordby Sharnford Market Overton Nanpantan Sheepy Magna Cold Overton Hungarton Far Coton Thorpe Acre Hose Normanton Goadby Sproxton Lockington Branston Ratcliffe on Soar Swinford Newbold Verdon Great Easton Wigston Woodthorpe Asfordby Hill Heather Newtown Unthank Houghton on the Hill Potters Marston Copt Oak Mowmacre Hill Countesthorpe Coleorton Wyfordby Teigh Huncote Bruntingthorpe Shellbrook Burton Overy Gelsmoor Albert Village Shoby Catthorpe Brascote Hallaton Witherley Newton Burgoland Garthorpe Swepstone Shelthorpe Woodhouse Eaves Barlestone Westcotes Carlton Curlieu Leicester Forest East Drayton Barkby Grimston Sutton Cheney Chadwell Long Whatton Walcote Nether End Glen Parva Wigston Magna Earl Shilton Red Hill Barton in the Beans Stapleford Kilby Marefield Greenhill Hollycroft Church Langton Great Glen Stonton Wyville Plungar Chilcote Walton Great Dalby Knaptoft Barkby Thorpe Breedon on the Hill Mountsorrel Sibson Hoby Griffydam Donisthorpe Hathern Thorpe Langton Rothley Barkestone-le-Vale Nailstone Orton-on-the-Hill Bitteswell Diseworth Little Stretton Little Dalby Easthorpe Thurlaston South Kilworth Willesley South Wigston Gaddesby Broughton Astley Dadlington Packington Beeby Gumley Wymeswold Burton Lazars Loughborough Wigston Magna Halstead Theddingworth New Parks Tugby Newtown Linford Leire Knossington Thurmaston Outwoods Western Park Mowsley Normanton Turville Croft Quorn or Quorndon Upton Leicester Sheepy Parva Scalford Saltby Rotherby Osbaston Hollow Frisby on the Wreake Coston Dishley Laughton Humberstone East Norton Upper End East Langton Leesthorpe Thorpe Arnold Isley Walton Newbold Thurnby Ashby-de-la-Zouch Bardon Harston Belton Woodhouse Gaulby Swannington Sileby Cavendish Bridge Willoughby Waterleys Aylestone Ibstock Odstone Cotes Peatling Magna Walton on the Wolds Cranoe Hugglescote Ullesthorpe John O'Gaunt Bescaby Ringing Hill Higham on the Hill Stathern