Capital Gains Tax in Horsey Corner

Get in touch

Capital Gains Tax Advice in Horsey Corner

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 Horsey Corner (Norfolk)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
California Hardwick Bushy Common Hethersett Thorpe End North Lopham Brinton Carleton Forehoe Shouldham Gooderstone Blackborough Holkham Shelton Scarning Ridlington Upton Green Stalham Old Buckenham Kirby Bedon Neaton Bradfield Barroway Drove Bircham Newton Booton Mundford Roydon Topcroft Threehammer Common Stow Bridge Fishley Southgate Horningtoft Bradenham Syderstone South Wootton Butcher's Common Corpusty Danemoor Green Horsham St Faith Loddon Ingloss Walpole Marsh Mill Street Gimingham RAF Coltishall Limpenhoe Bale Nethergate Tibenham Toprow Shouldham Thorpe Gresham Garlic Street Sandringham New Hainford Beighton Little Ryburgh Tunstall Northall Green Itteringham Itteringham Common Methwold Banham Waterloo South End Silfield Wighton Frans Green West Tofts Bessingham Hempstead Black Carr Bow Street Sharrington Gayton Scole Peaseland Green North Elmham Irstead Street Bowthorpe Bunwell Salle Red Pits Sculthorpe Happisburgh Weston Green Wereham Haveringland Earlham Heacham Mulbarton Drayton Rackheath Wood Dalling Hales Green Hunstanton Snow Street Fulmodeston Burnham Thorpe Hales Westgate Street Low Street Walcot Green Swaffham Grimston New Rackheath Nogdam End East Somerton Bush Green Panxworth Long John's Hill East Beckham Bittering Metton Alpington Doughton Weston Longville Pott Row Low Common Stody Colney Orange Row Ivy Todd Paston Lamas Broomsthorpe Worstead Fring Burgh Common North Pickenham Thunder Hill Mill Green Feltwell Gasthorpe Barmer The Heath Runhall Costessey Old Catton Reepham Morton Hellesdon Watlington Besthorpe Stacksford Barningham Green Stanford Lyng Quidenham Anchor Corner Docking West Barsham Houghton St Giles East Tuddenham Aslacton Freeland Corner Lynford Attlebridge Hethel Leziate Fen Street Hillington Babingley Grange, The Watton Lordsbridge Castle Rising Titchwell Hilgay Ostend Great Walsingham Carleton St Peter Stalland Common Wilney Green Happisburgh Common Low Tharston West Walton Crostwick Blackwater Fakenham Wicklewood Ormesby St Margaret Saham Toney Beeston Pollard Street Banningham Wiggenhall St Mary Magdalen Badersfield New Sprowston Cringleford Hales Street Cangate Filby Blofield Boyland Common Tunstead Horning Brewers Green Great Moulton Reymerston Aylsham Thurlton Swanton Morley Hargate Pulham Market Bexwell South Green Hawes' Green Stokesby Terrington St John Dunton Wroxham Bridge Green Crossdale Street Pennygate Hindolveston Plumstead Northwold Beachamwell Oulton Merton Shropham Wellingham Woodrising Baconsthorpe Short Green Hingham Little Marsh Hemblington Primrose Green Godwick Swardeston South Creake Spooner Row Sea Palling Waterheath Honingham Great Bircham Croxton Rush Green Salters Lode Heckingham Skeyton Corner Crowshill Cawston Runham Vauxhall Beeston St Lawrence South Pickenham Wereham Row Outwell Letton Green Wimbotsham Wells-Next-The-Sea Woodton Trunch Mundesley Newton Great Hockham Hengrave Thorpe Little London Burgh St Peter Mattishall Sustead Smallburgh Upgate Street Diss Crowgate Street Burnham Norton Lyngate Belton Alburgh Gaywood Raveningham Primrose Corner Starston Chapel Field Brampton Welborne Common New Costessey Lower East Carleton Dockeney Silvergate Toftrees Howe Nordelph Corner Southrepps Whissonsett Framingham Earl Crabgate Martham Great Witchingham Paston Green Cockthorpe Barton Turf Billockby Brandiston Pristow Green Ringstead Gayton Thorpe Plumstead Green East Runton Scoulton Poringland Blickling The Ling Foulden Weybourne Sheringham Burnham Deepdale Trowse Newton Sharp Street Burnham Overy Town Keswick Sutton Deopham Norwich New Buckenham Aldeby Wattlefield Fritton Emorsgate Walsoken Stradsett Repps Fordham Darrow Green Dam Green Southtown Runham Westwick Whinburgh Shotesham Castle Acre Rockland St Peter Ashmanhaugh Little Ellingham Dunton Patch Bawburgh Hockering Heath The Heath Southburgh North Denes Thorpe Hamlet Ringland Guist The Drove The Green Tilney All Saints Cobholm Island Thetford Easthaugh Penny's Green East Carleton Daffy Green Ashwicken Cordwell Pettywell West Poringland Gunthorpe Walpole St Andrew Stoke Ferry Great Ryburgh Swanton Novers Mundham Letheringsett Blakeney Tungate Thuxton Little Dunham Little Melton West Harling Ingleborough North End Scottow Wolterton Wacton Common Tottington Goose Green Bawdeswell Fleggburgh/Burgh St Margaret Wood Green Chequers Corner Potthorpe Sparhamhill Emneth Wiveton Meeting House Hill Ingworth Setchey Welborne Harling Road Twyford Wramplingham Little Snoring Anchor Street Swanton Abbott Wendling Bergh Apton Hempstead Scratby Hockering Fengate Wash Dyke Lower Thurlton West Raynham Cargate Common Bacton Green Thurton Thompson Colegate End Little Massingham Wormegay Wacton Bustard's Green Whitwell Street Edgefield Street Upper Hellesdon Wolferd Green Kirby Green Hassingham Belaugh Ditchingham Ludham Themelthorpe Surlingham Lower Street Hanworth Blo' Norton Rockland All Saints Billingford Worthing Saxlingham Sporle Brookville Topcroft Street Boughton Earsham Norton Corner Edgefield Westfield Deopham Stalland Kimberley Calthorpe East Wretham Cliftonville Great Fransham Pockthorpe Chedgrave Brooke Johnson Street Bastwick Broomhill East Walton The Heath New Catton How Hill Sprowston Shelfanger Bridgham Coston Long Stratton Intwood Runcton Holme Ashby St Mary Ingham Corner Brundish Sparham Colby Whittington New Holkham Rushall Stoke Holy Cross Guestwick Green Tittleshall Rougham Larling Geldeston Felmingham Mautby Barney St John's Highway Fiddlers' Green Saxlingham Nethergate Road Green Dersingham Shingham King's Lynn Fritton Morley St Botolph Bunwell Hill Waterloo Shimpling St John's Fen End Weasenham St Peter Newgate Corner Brandon Creek Tasburgh Hainford Brundall Beckett End Antingham Northacre Bressingham Common Ridlington Street South Green Brandon Parva North Barsham Saxthorpe Roughton Westgate Gillingham Bressingham Oxnead Moorgate Thorpe Row Saddle Bow Thickthorn Hall West End Strumpshaw Ketteringham Silver Green Fincham Thurning Shadwell The Lings Ingoldisthorpe Marsh Side Cranwich Frenze Felthorpe Little Cressingham Suspension Bridge Woodbastwick Hoe Hockwold cum Wilton Three Holes Ranworth Town Green West Runton Denton Billingford Stratton St Michael East Raynham Congham Overstrand Pedham Tacolneston Framingham Pigot Scole Common Catton Grove Norton Subcourse Rollesby Lower Street Thorpe Marriott Nordelph Hickling Heath Bexfield Coxford Clenchwarton South Raynham Burgh next Aylsham Summerfield Hill Common Anmer Lower Tasburgh Fersfield Newport Didlington Greensgate Stibbard Hevingham Mill Common West Lynn Holly End Wheatacre Ormesby St Michael Sparrow Green Bunwell Bottom Marshland St James Cess Pottergate Street North Creake Shepherd's Port High Green Pulham St Mary West Head Upper Street Fair Green Dereham Foulsham Hardingham Weeting Thorpe Abbotts Dunston Lower Bodham Thornage Caudlesprings High Kelling Kerdiston Walton Highway Marlingford Bodney Brancaster Illington Bush Estate Little London Denver Upper Brandon Parva East Rudham South Lopham Stow Bardolph Hindringham Spixworth Rushford Costessey Park Kidd's Moor Church End Burston Toftwood Mile Cross Briston Oulton Street Copy's Green Tyby Edge Green Thelveton Narborough Lingwood Little Fransham Drymere Thornham Drury Square Shereford Damgate Aldborough Oxborough Warham Freethorpe Witton Griston Weasenham All Saints Houghton Upper Sheringham Tilney cum Islington Southery Wood Norton Felbrigg Tivetshall St Mary Walcott Thurne Pockthorpe Horsey Roudham Middle Harling Postwick Coltishall Bramerton Newgate Swafield Stratton Strawless Necton Redenhall Aylmerton Clippesby Bacton Edingthorpe Green Hapton North Green Toft Monks Audley End Walpole Highway Sco Ruston North Runcton Briggate Thwaite St Mary Ingham Cat's Common Tattersett Welney Little Plumstead Stonebridge Workhouse Common West Lexham Bengate Stubb High Green Stalham Green Foxley Wainford Old Hall Street Thrigby Foxhole Hunt's Corner Lenwade Halvergate Cantley Guestwick Tottenhill Row Podmore Langham Gressenhall High Common Oxwick Forncett End Dickleburgh Garvestone Methwold Hythe Lakenham Harpley Etling Green Colton Cockley Cley Colkirk Carbrooke East Lexham Drurylane Barton Bendish Hamrow Elsing Upgate Street Thursford Wiggenhall St Mary the Virgin Melton Constable Newtown Middleton Holme Hale Walpole St Peter Wickhampton Catfield Walpole Cross Keys Heydon West Winch Pockthorpe Cobbler's Green Kirby Cane Litcham Lyon's Green Gateley Flaxlands The Green West Bilney Loddon Swannington Blofield Heath High Green Sneath Common Hyltons Crossways Swainsthorpe Glandford Burgh Castle Clippings Green Great Cressingham Wretton Roydon Newton Flotman Terrington St Clement Thorpe Market Lower Green Withergate Field Dalling Shepherd's Gate Little Barningham Narrowgate Corner Thurgarton West Somerton Rockland St Mary Bagthorpe Bedingham Green Brisley Hemsby Bracon Ash Frankfort Tyegate Green Salhouse Attleborough Frettenham Upton Knapton South Burlingham Saham Hills Hellington Honing Brock's Watering Lower Stow Bedon North Tuddenham Wortwell Church Green Stubbs Green Muckleton Mustard Hyrn Ickburgh Taverham Eaton Barford Hay Green Burgh Stubbs Limpenhoe Hill Suffield Stockton Upper Stoke Winfarthing Wiggenhall St Germans East Winch Maypole Green Haddiscoe Caister-on-Sea Horsford Ratten Row Beeston Regis Bintree Newton St Faith Gissing Fairstead Frogshall Hackford Trimingham Hilborough Egmere Holme next the Sea West End North Wootton Edingthorpe Manson Green Arminghall Broome Marham Briningham Sheringwood Wreningham Potter Heigham Hempton Ten Mile Bank Clint Green Southwood Whimpwell Green Tipps End Reedham North Walsham Croxton Tuttington Tivetshall St Margaret West Newton North Burlingham The Arms Piccadilly Corner Little Hautbois Sloley Little Thornage Snetterton Flitcham East Ruston Cley next the Sea South Acre Holt Skeyton Hickling Marsham Tatterford Crownthorpe Broom Green Kettlestone Old Hunstanton Eau Brink Alderford Cucumber Corner Filby Heath Padney Wiggenhall St Peter Puddledock Seething Great Dunham Little Walsingham Suton Upper Guist Burnham Overy Staithe Millgate Acle Caston Matlaske Eccles Road Ovington West Beckham Witton Bridge Neatishead Three Cocked Hat Kenninghall Bircham Tofts Waxham Thurlton Links Jordan Green Carleton Rode Burnham Market Blackborough End Dowe Hill Great Snoring Mattishall Burgh Caistor St Edmund Eccles on Sea Buckenham Mileham Moulton St Mary Walton Warren Wickmere Gorleston-on-Sea Mount Pleasant Wood Street Lessingham Foundry Hill Watton Green Dunkirk North Barningham Pockthorpe Bush Green Morningthorpe Bawsey Kelling Thorpe St Andrew Stiffkey Garboldisham Ashwellthorpe Wilby Little London Crane's Corner Upper Street Greengate Deopham Green Swanton Hill Northrepps Flordon Tharston Frost Row Alby Hill East Barsham Lundy Green Langley Street Thursford Green Cranworth Keswick Upgate Thorpland Upwell Broomholm Highoak Emneth Hungate West Dereham Westbrook Green Lyngate Snettisham Dickleburgh Moor Downham Market Sedgeford Longham Bellmount Bull's Green Smeeth, The Burlingham Green Barnham Broom St Olaves South Runcton Wymondham Little Hale Doddshill Yelverton Horsey Corner Brakefield Green Pilson Green Wolferton Shipdham Hemblington Corner Brettenham Erpingham Dumpling Green Tower End Binham Brockdish Ragmere Yaxham Hunworth Sisland Craymere Beck Tilney St Lawrence Hardley Street Stanfield Eastgate Bodham Little London Ashill East Bilney Smallworth Fritton Stanhoe Sidestrand West Rudham Horstead Hedenham Claxton East Harling Woodgate Saxlingham Green Stow Bedon South Denes Morston Great Yarmouth Tilney Fen End Hempnall Waterloo South Walsham Cromer Salthouse Tilney High End Easton Bunker's Hill Tottenhill Drabblegate Shernborne Beetley Upper Street St James Damgate Spa Common Southgate Harper's Green North Green Pooley Street Browston Green Needham Dilham Buxton Hopton on Sea West Acre Great Ellingham Chalkhill Hoveton Hempnall Green Breckles Hickling Green Great Plumstead Misery Corner Fodderstone Gap Winterton-on-Sea Kirstead Green Helhoughton Ellingham Crimplesham Great Massingham Bradwell Brancaster Staithe Harleston Pentney West Caister