Capital Gains Tax in Radstone

Get in touch

Capital Gains Tax Advice in Radstone

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 Radstone (Northamptonshire)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Litchborough Hatton Park Woodend Grange Park Hardingstone Charwelton Puxley Holcot Great Harrowden Preston Capes Upper Astrop Pitsford Woodnewton Walton Grounds The Green Nether Heyford Coton Canons Ashby St James's End West Haddon Shelfleys Ravensthorpe Slipton Duncote Lamport Orlingbury Higham Ferrers Little Creaton Woodford Crowfield Upper Boddington Rothersthorpe Marston St Lawrence Syresham Caldecote Wadenhoe Clay Coton Rockingham Bradden Great Brington Fawsley Finedon Haselbech Chelveston Milton Malsor Maidford Great Oakley Weldon Long Buckby Wharf Rushton Papley Roade Hannington Whitfield Moulton Park Kings Sutton Edgcote Furtho Wellingborough Braybrooke Rothwell Halse Lower Boddington Radstone Brackley Laxton White Hills Slapton Stoke Bruerne Polopit Preston Deanery Evenley Geddington Wootton Everdon Cattle End Polebrook Culworth Thorpe Waterville Draughton Sutton Bassett Arthingworth Collyweston Easton Maudit Whittlebury Flore Staverton Upper Stowe Glapthorn Lower Weedon Helmdon Grimscote West Farndon King's Cliffe Newton Bromswold Brigstock Ashby St Ledgers Little Billing Whilton Locks Great Purston Thrapston Titchmarsh Clopton Cranford St John Kingsthorpe Hollow Silverstone Teeton Church Charwelton Shutlanger Piddington Armston Aynho Fotheringhay Cotton End Courteenhall Pytchley Clipston Weedon Bec Raunds Potterspury Hackleton Hinton Wappenham Great Oxendon Lower End Pattishall Weston by Welland Thenford Passenham Plumpton Astrop Adstone Broughton Hemington Grafton Underwood Lower Catesby Harrington Church Brampton Stoke Albany Abington Wakerley Harlestone Long Buckby Blakesley Harringworth Hinton-in-the-Hedges Church Stowe Bulwick Knuston Ringstead Greens Norton Newbottle New Duston Farthinghoe Drayton Great Houghton Apethorpe Sibbertoft Kettering Irchester Barton Seagrave Greatworth Woodford Halse Dingley Daventry Desborough Hollowell Lowick Duddington Farthingstone Warmington Kelmarsh Castle Ashby Nobottle Lower Middleton Cheney Upper Weedon Eydon Kingsley Park Yardley Gobion Gretton Bugbrooke Harpole Sudborough Cogenhoe Stanion Warkton Lower Benefield Kilsby Badby Brixworth Easton on the Hill Norton East Haddon Quinton Little Cransley Stanford on Avon Chipping Warden Byfield Wilby Creaton Earls Barton Burton Latimer Queen's Park Westhorp Abington Vale Hardwick Lower End Great Billing Eastcote Far Cotton Upper Catesby Pilton Kennels Cotts Thornby Brampton Ash Lutton Upper Heyford Old Stratford Luddington in the Brook Ashton Strixton Rushden Weston Warkworth Milthorpe Whiston Whilton Warmonds Hill Bozeat Blatherwycke Irthlingborough Grafton Regis Northampton Sywell Round Spinney Watford Chapel Brampton Wood Burcote Thorpe Underwood Middleton Cheney Old Upper Benefield Walgrave Orton Hellidon Cranford St Andrew Thorpe Mandeville Plumpton End Deenethorpe Horton Weekley Kislingbury Little Irchester Paulerspury Barby East Carlton Abthorpe Achurch Winwick Chacombe Northfield Ashley Yarwell Muscott Wilbarston Eaglethorpe Cold Ashby Shotley East Farndon Lilbourne Corby Upton Welford Weedon Lois Moulton Wollaston Chadstone Carlton Purlieus Boothville Wicken Croughton Towcester Grendon Sulgrave Thurning Welton Cottingham Isham Denford Brockhall Little Oakley Overthorpe Barby Nortoft Nassington King's Heath Cotterstock Foster's Booth Falcutt Alderton Hargrave Moreton Pinkney Guilsborough Southwick Little Everdon Aston le Walls Cottesbrooke Yardley Hastings Marston Trussell Dalscote Tansor Lower End Deene Stoke Doyle Cosgrove Collingtree Quinbury End Great Cransley Deanshanger Little Houghton Newnham Twywell Little Addington Hartwell Little Harrowden Middleton Woodwell Caldecott Thorpe Malsor Little Brington Crick Mawsley Village Spinney Hill Road Weedon Hulcote Maidwell Scaldwell Mears Ashby Holdenby Dallington Foscote Tiffield Ecton Great Doddington Great Addington Blisworth New Barton Pury End Dodford Weston Favell Astcote Overstone Spratton Hanging Houghton Lower Thorpe Ashton Elkington Gayton Loddington Yelvertoft Pipewell Islip Kingsthorpe Stanwick Newton Briar Hill Denton Swan Valley Barnwell Boughton Oundle Naseby Aldwincle Chapel End Brafield-on-the-Green Ecton Brook Wigsthorpe Braunston Charlton Duston Cold Higham