Capital Gains Tax in Dartmouth Park

Get in touch

Capital Gains Tax Advice in Dartmouth Park

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