Capital Gains Tax in Croydon

Get in touch

Capital Gains Tax Advice in Croydon

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 Croydon (London)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Vale of Health Hoxton West Green East Acton Havering-atte-Bower Chingford Hatch Brunswick Park Highwood Hill Ham Goddington Fair Cross Croydon Crayford Stroud Green Ruislip Common Chipping Barnet Shirley Totteridge The Borough Wallington Ladywell Sutton Locksbottom Palmers Green Plumstead Ramsden Hanworth Clapham Park Brentford Holdbrook Muswell Hill Southborough Rotherhithe Harrow on the Hill Grange Park South Woodford Colney Hatch Pinnerwood Park Child's Hill North Cheam Old Oak Common North Wembley Carshalton Beeches New Beckenham Bellingham Brondesbury Edmonton Stratford New Town Brixton Ducks Island Cricklewood Stockwell Dudden Hill Northolt Church End South Harefield Brimsdown Old Ford Balham Stepney Hammersmith North End Crouch End Roundshaw St Johns Downham Enfield Lock Wennington North End Kingsland Richmond Newyears Green Rush Green West Hampstead Belmont Stoke Newington Spring Park Kingsbury West Dulwich Elmstead Broad Green Greenwich Petts Wood Goodmayes Barking Chessington Hackney Harlington Broom Hill Noel Park Mill Hill Streatham Headstone Chislehurst St James Walham Green Mile End New Charlton Grove Park Oakleigh Park Crooked Billet New Cross Gate Clay Hill Greenhill Hayes Kingston Upon Thames Colham Green Maida Vale Lower Clapton Barnet Kilburn Manor Park Keston Tooting Graveney Castle Green Homerton Newbury Park Lower Edmonton Little Woodcote Crews Hill Woodford Green Corbets Tey Dulwich Arkley New Eltham College Park Seven Kings Old Bexley Thornton Heath Belvedere Merton Park Earlsfield Uxbridge Abbey Wood Monks Orchard Sudbury Surbiton Ruxley Woodlands Pimlico Wimbledon Edgware North Feltham Islington Redbridge Horns Green Poplar Mitcham Honor Oak Hornchurch Cheam Mill Meads Elmers End Bermondsey Church End Creekmouth North Woolwich Wanstead Little Heath Clapton Park Bethnal Green Gidea Park Wandsworth Cowley Bromley Maypole Osidge Norwood Green Little Ilford Marks Gate St Giles Cudham Motspur Park Beddington Fairlop Mottingham Stamford Hill Gospel Oak Vauxhall Foxbury South Beddington Hazelwood Charlton New Addington Thamesmead Clerkenwell Harrow Weald Brompton Sipson Woodcote The Hyde Lower Holloway Roxeth Canning Town Hillingdon Heath Rowley Green Streatham Vale Old Coulsdon Luxted Falconwood Colindale Norbury Acton Green Gunnersbury Poverest Cockfosters Belgravia Finchley Hatch End Stonebridge Upton Park Chingford Green Norbiton Park Langley Hacton Dollis Hill Nine Elms Battersea Grove Park North Harrow Bexley Limehouse North Hillingdon Wandle Park Neasden Woodcote Green Lower Feltham Strand Enfield Brockley Hounslow West Hampstead Woodford Bridge Leytonstone Forest Hill Lower Sydenham Barnes Cray Shooters Hill Eastbury Furzedown South Hornchurch Chiswick Rosehill Upper Sydenham Wood Green Foots Cray Botany Bay New Barnet Copse Hill Ruislip Gardens Tottenham Hale Hill End Nunhead Longford Waddon Hadley Wood Woodside Park Green Street Green Russell Hill Upper Norwood Finsbury Park Sands End Brondesbury Park Hockenden Lambeth Coney Hall The Wrythe East Bedfont Hornsey Southgate South Croydon Bow Welling Kew Spitalfields Pentonville Noak Hill Sidcup Winchmore Hill Golders Green Southall Hornsey Vale Brentford End New Malden Keston Mark North Ockendon North Cray Hainault Kenley Rayners Lane Tulse Hill Welsh Harp Holborn Belmont Lower Place Old Malden Wapping Kingston Vale West Brompton Southend Plashet West Ealing Bromley West Wickham Cole Park Bush Hill Park Shacklewell Hadley South Norwood Friern Barnet West Norwood Loxford Wallend East Barnet St Mary Cray Barnehurst Dalston Nash Highbury Walworth Isle of Dogs Malden Rushett New Cross Putney Heath Beckton Ratcliff Avery Hill Oakwood North Kensington Yiewsley Burnt Oak Haggerston Deptford Blackfen Kensal Rise Yeading South Lambeth Upminster Berry's Green Wood End Green St Paul's Cray Chadwell Heath Carshalton Gallows Corner South Tottenham Lea Bridge Harlesden Willesden Green Isleworth Widmore Alperton Benhilton Chislehurst West South Hampstead St Margarets Globe Town Ealing Wealdstone Cranford Becontree Southfields Rainham South Hackney Hampstead Garden Suburb Harold Hill Barnes Enfield Wash Addiscombe Woolwich Mount Pleasant Gants Hill Mayfair Teddington Kentish Town Derry Downs West Ruislip St Helier Ruislip Whetstone Bowes Park Park Royal Lewisham Little Stanmore South Street Blackwall Merton Harefield Kennington Heston North Acton Twickenham Notting Hill Tolworth Fortis Green Dulwich Village Bell Green Perivale Wembley Park Paddington Hendon Upper Walthamstow Romford Westbourne Green West Ham Hackbridge Tokyngton West Acton Seething Wells Northumberland Heath Hayes Dartmouth Park East Dulwich Whitton Rise Park Clock House Hook Barnet Gate Streatham Hill Harrow Clapham Lee Somers Town Blackheath Lisson Grove Ilford Kensal Town West Harrow Camberwell Biggin Hill Strawberry Hill Morden Honor Oak Park Carshalton on the Hill Beckenham Kensal Green Harold Wood Cottenham Park Underhill Eden Park Hale End Upper Clapton North Sheen Osterley Elm Park De Beauvoir Town Worcester Park Pinner Bedford Park Herne Hill Putney Vale Westminster New Southgate Mortlake West Drayton London Beddington Corner Forest Gate Chelsea Addington Lessness Heath Kensington Raynes Park Eastcote Village North Hyde Blackheath Park Bulls Cross Newington Upper Shirley World's End East Ham South Harrow Walthamstow Harringay Aldborough Hatch South Kensington Hampton Morden Park Woodford Wells Slade Green Hackney Wick Forestdale Coldharbour Cowley Peachy Coldblow Shortlands Kevingtown Upper Tooting Custom House West Kensington Purley Hayes Town Plaistow St Luke's Upper Edmonton Upper Holloway Hampton Wick Ardleigh Green Barnsbury Shoreditch Monken Hadley Farnborough Plaistow Kenton Fullwell Cross Stanmore Millwall Maitland Park Petersham Stratford Selsdon Downe North Finchley Heath Park Woodside Sanderstead Catford Hatton St Pancras Snaresbrook Temple Mills South Ruislip Plumstead Common Bromley Park Upper Elmers End Soho Chase Cross Bushey Mead Northwood Hills Forty Hill Pinner Green East Sheen Leyton Bloomsbury Enfield Highway Upton Willesden Hayes End Penge Fulham Chelsfield Streatham Park South Acton Ruislip Manor South Bromley Coulsdon Leaves Green Holders Hill Camden Town Friday Hill Knight's Hill Highams Park Eltham Longlands Harefield Grove Hither Green Greenford Cubitt Town Crofton West Barnes Brook Green Hanwell Shadwell Harold Park Bandonhill Marylebone Spring Grove Norwood New Town Whitechapel Finsbury Canons Park Orpington Woodford Kidbrooke Tufnell Park Stratford Marsh Collier Row Hillingdon St John's Wood Chingford Aperfield Highgate Roehampton Anerley Uxbridge Moor Summerstown Silvertown Southborough St George in the East Bromley Common Knightsbridge East Finchley Coombe Queensbury Shepherd's Bush Cranham Bickley Ponders End Barwell Ickenham Peckham South Wimbledon Feltham Hounslow Selhurst Rushmore Hill Freezy Water West Hill Bayswater Parsons Green Clayhall Primrose Hill Higham Hill Northwood Collier's Wood Erith West Kilburn Regent's Park Aldersbrook Dagenham High Barnet Putney Lampton Canonbury Cranbrook Cranley Gardens Dormer's Wells Eastcote Barkingside East Wickham Enfield Town Tottenham Berrylands Bow Common Earl's Court Acton West Hendon Preston Harmondsworth Sundridge Emerson Park West Heath Bexleyheath Wembley Hampton Hill Tower Gardens Pratt's Bottom