Capital Gains Tax in Langridge

Get in touch

Capital Gains Tax Advice in Langridge

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 Langridge (Somerset)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Park Claverton Lower Vexford Lower Whatley Holywell Lake South Chard Clayhanger Northfield Kewstoke Wiveliscombe Bathpool Shapwick Coxley Bratton Seymour Wootton Courtenay Monkton Heathfield Beardly Batch White Ball Westcombe Town's End Ashington Bloomfield Mudgley West Town Ellicombe Rumwell Blackford Westford Camerton Ilchester North End Thorney Lyngford Cloford Maundown Highway Chesterblade Middle Stoford New Town Kingsbury Regis Corston Borough Post Feltham Merriott Chewton Keynsham Stoke St Gregory Brinsea Preston Plucknett Lye Hole Willett Draycott Knightcott Kenny Beercrocombe Dommett West Lyng Icelton Luccombe Hornblotton Listock Clapton in Gordano Worth Sandylands Callow Hill Rodney Stoke Upper Westholme Street on the Fosse North End Kilve Creech Heathfield Stoke St Mary Hemington Bedlam Henstridge Lower Godney Gothelney Green Small Way Ilminster East End Stock Wrangway Hythe Higher Alham Raddington Burtle Hill Sutton Wick Thurloxton Midelney Hale Coombe Lattiford Weston-super-Mare Charlton Portland Pound Castle Cary Ruishton Publow Sand Pleamore Cross Barlake Chapel Allerton West Harptree Highbridge Catsham Ashbrittle Cleeve Hele Pudleigh Williton Wilkin Throop East Stoke Ash Chilton Trinity Star Sutton Bridgetown Twerton Hapsford South Cheriton Upper Canada Higher Wambrook Royston Water Bason Bridge White Ox Mead Penselwood Ashcombe Park Perry Green Winsham Barrow Gurney Lamyatt Blackwell Barrow Polsham Little Weston Ashbeer Dowslands Upper Langford Yeabridge Ludney Northgate Sydenham Fulwood Coleford Four Foot Ham Shawford New England Combe Hay Kingswood Charlton Horethorne Yarde Cannington Mark Crowcombe Hornsbury Rich's Holford Steart Huish Episcopi Whitecross Priest Down Yeovilton Panborough East End Little Hill Dowlish Wake Berhill Banwell Faulkland Daw's Green West Town Old Cleeve Cholwell New Buildings Chelmsine Fordgate Parbrook Weston Town Chelston Heathfield Liney Chelvey Langaller Stanton Drew Taunton Wick Clapton Alder Row East Woodlands Gold's Cross Knapp Westport Muchelney Ham Nynehead East Pennard Dulcote Catsgore Pensford Northmoor Green or Moorland Sion Hill Innox Hill Bleadney White Cross Dillington Hatch Green Lawford Timsbury Coultings Sticklepath Failand Beetham Chard Junction Shoscombe Lydeard St Lawrence Axbridge Alhampton Widcombe Launcherley Darshill Burnworthy Chewton Mendip Whitelackington Southwood Churchill Green Uphill Manor Winterhead Stoke St Michael Meare Green Nunney Catch Nailsbourne Buckland Dinham Whitnell Appley West Luccombe Hungerford Churchinford Ansford Walcombe Havyatt Wagg Edford East Dundry Greendown Woolley Edington Bradford-on-Tone Haydon Wood Winford Willand Park Corner Handy Cross Twinhoe Higher Durston Bishopswood Christon Marston Bigot Wales Redlands Sweethay North End Bossington Downhead Strode Edingworth Compton Dundon Weston Park West Compton Loxton Chantry Tarnock Courtway Thornfalcon Newton Bleadon Puckington Coxley Wick Withiel Florey Worminster Wookey Hole Sticklinch Lower Aisholt Ham Blagdon Bodden May's Green Houndstone Horsecastle Peasmarsh Oldfield Park Stringston Haydon Kingston St Mary Clutton Hill Langley Trull Weacombe Wickham's Cross Westfield West Quantoxhead Kittisford Scrapton East Clevedon Hobbs Wall Stanton Wick Lower Burrow Puriton Farleigh Hungerford Warleigh Lydford Fair Place Bickenhall Huntspill Edgarley Sherborne Holywell Clays End Wick St Lawrence Curry Rivel Pitminster Haygrass Batten's Green Holly Brook North Cadbury Dundon Hayes Sharpstone Washford Ashcott Whitchurch Gupworthy Angersleigh Huntworth Townsend Northover Wookey Woodram Pilton Plot Street Wadeford Doulting Southdown Middle Bridge Rolstone West Lambrook Hardington Mandeville North Petherton North Stoke East Street Wilton Nyland Badgworth Ridge Kingsbridge Treble's Holford Woolverton Coleford Water Long Load Hutton Discove Helland Canonsgrove Milton Clevedon East Nynehead Mark Causeway Hewish Brompton Regis Priddy Westhay Heale Bath Cowslip Green East Compton Little Green Charlton West Howetown Low Ham Brookhampton Pen Mill Rush Hill Chelvey Batch Oakhill Stowey Cocklake Longhouse Asney Hinton Yeovil Marsh Barton St David Hoccombe Crewkerne Upper Swainswick West Mudford Stretcholt Tadhill Shalford Welton Wellow Holcombe East Brent Batcombe Mudford Parchey Woolavington Blackmoor Sellick's Green Pyleigh Rowford West Bradley Chillington Lopen Head Lusty Little Norton Pightley Eastover Wilkinthroop Burcott Upper Godney Cudworth Lower Woolston Bathway Pitcombe Charlton Heathfield Howley Wellisford Rowbarton Goathurst Lansdown South Brewham Lowton Southtown Batheaston Portway Whitefield Hallatrow West End Barrington Radford Allowenshay Barr Halse Bathealton Misterton Kingweston Bailbrook Abbas Combe Holman Clavel Ford Street Chipstable North Perrott Drayton North Cheriton Lower Marsh Watergore Dinder Tacker Street Woodford Ash West Stoughton Foddington Middle Burnham Oake Green Brompton Ralph Burnham-on-Sea Street Ash Tickenham Cucklington Bonson Nedge Hill Milborne Wick Atherstone Cote Thicket Mead Dodington Bury Summerlands Binegar Pawlett Longstone Tyntesfield Bradley Green Broadway Fiddington Windwhistle Oare Urgashay Steanbow Worle Green Parlour Radlet Pict's Hill Clavelshay Leigh Woods Crickham Exton Churchtown Chew Stoke Bower Hinton Withycombe Aisholt Codsend Walcot Berkley Oldmixon Pipehouse Berkley Down Walton in Gordano Hinton Blewett Watchfield Nye Roundham Blackrock Eastertown Dimmer Exford Rhode Rimpton Eastbrook Minehead Beer Langford Charlcombe Holford Ashill Rode Ham Stratton-on-the-Fosse Wicklane Snails Hill Lovington Silver Knap Stamborough Glastonbury Beard Hill Holwell Pond Close Bilbrook Burlinch Poyntington Langford Laverton Churchstanton Honey Hall Aley Woodcombe Stogursey Charlton Adam Galmington Inglesbatch Kingston Seymour South Stoke Friarn Sutton Montis Wayford Alvington Overleigh Horton Houndsmoor Wrantage Newtown Hurcott Stocklinch Woodhill Middletown Slape Cross Hedging Lynch Oldford Compton Martin Porlock Weir Newton St Loe Easton Town Edithmead Woolvers Hill Fitzhead East Rolstone Moorledge West Huntspill Long Ashton Roadwater Tadwick Lower Weare Northay Britten's Somerton Hill Lower Stratton St Georges Henlade Rode Hill New Town Godney Aller Butcombe East Lambrook Egford White Cross Higher Town Weekmoor Link East Chinnock Merridge Bussex Cross Limpley Stoke Bathampton Nailwell Oath Bowdens Pill Pepper Hill Benter Upper Weston Bathwick Thrupe Adscombe Pitcot Pecking Mill Burton Tonedale Charlton Mackrell Henstridge Bowden Timberscombe Dunster South Down Lower Milton Keward Cockwood Cole Odcombe Queen Charlton Tellisford Blackwater Four Forks Alcombe Holton New Town West Shepton Udley Lower Wraxall Wanstrow Rowberrow St Decumans Cannard's Grave Havyatt Green White Cross Huntscott Blackmoor Frome Curland Common Bowlish Sutton Bingham Bishop Sutton Triscombe Templecombe Barrow Vale Webbington Lower Swainswick Stoford Middlezoy Burford Oake Clewer Seven Ash Bridge Riding Gate Sandford Batch Lambridge Moor Perry Street Horner Screedy Townsend Alford Nempnett Thrubwell Brockwell South Widcombe West Wick Tintinhull Critchill Highridge Woodlands Golsoncott Curland Westham Milton Gurney Slade Plainsfield Berrow Isle Brewers Langport Newbury North Court Hardington Marsh North Town Muchelney Wyke Champflower Downside Woodford Backwell Sparkford Redlane Evercreech Cheddon Fitzpaine Wells Ash Priors Luxborough Stonebridge Lydmarsh Cad Green Ford Rodway Stoughton Cross Higher Chillington Woolmersdon Higher Holton West Monkton Kingdown Hurst Upton Roughmoor Heale Podimore Norton Sub Hamdon Burnett Monksilver Fivehead Lilstock Lower Failand Purtington Creech St Michael Neighbourne Bridgehampton Wreath Lower Canada Over Stowey Downside High Ham Outwood Northmoor Corner Old Down Northwick Lye Cross Windmill Hill Dundry Monkton Combe Plaster's Green Tone Green Middle Stoughton Brandish Street Clutton Weston Bampfylde Girt Wilmington Lower Merridge Backwell Green Stony Littleton Hunstrete Bratton Dunball Payton Chelston West Hill South Barrow Portway Stembridge Abbots Leigh Pedwell Litton Ubley High Littleton Pooltown Henton Sticklepath Coat Frieze Hill Lyatts Emborough Rickford Blindmoor Newport West Hill Bloomfield Southay Poole West Stoke The Common Peasedown St John Woodhill Larkhall Rockley Ford Farrington Gurney Kilmersdon Norton Hill Dinghurst Waterlip Marsh Street Stileway Keenthorne West Yeo Holway Upper Coxley Towerhead Elliots Green Old Way Broomfield Silver Street Wellsprings Lullington Clapton Whitcombe Bagley Wraxall Burrow Churchill Blackford Orchard Portman Coombe Sampford Moor Beacon Hill Regil Dundon Pylle Badger Street Middle Green Sampford Brett Pibsbury Breach East End Upper Town Withyditch Chilson Cuttiford's Door Blue Anchor East Combe Greyfield Upton Noble Carhampton Haydon Howleigh Gundenham Fulford Coombses Chardleigh Green Budleigh Allerford Yatton West Town Kibbear Edgcott Laverley Duddlestone Lufton Steart Uphill Southway Clandown Bradley Cross West End Montacute Lower Weston Woolston Isle Abbotts Sidcot Barwick Writhlington Baltonsborough West Woodlands Bourton Yarberry Ashgrove Bathford Paulton Lodway Haymoor End Iwood East Cranmore Rodhuish Adsborough Kenn Moor Gate Brindham Winter Well Nimmer West Camel Maiden Head Cricket St Thomas Walton Yanley Burrow Upper Stanton Drew Soho Southmarsh Beam Bridge Allerford White Gate Hinton St George Barrow Claverton Down Crock Street Hollow Brook Westowe Buckland St Mary Pitsford Hill Ditcheat Rudge Mid Lambrook Durleigh Leigh Common Prestleigh Portishead Chilcompton Flax Bourton Heaven's Door Sigwells Stoney Stoke Chalkway Beggearn Huish Greinton Gotton Sea Hackness Halsway Elworthy Lydford-on-Fosse Lower Odcombe Hill End Marsh Mills North Town Hardington Moor Torre Bishops Lydeard Eyewell Ridgeway Redcliffe Bay Cossington Bindon Capton Flaxpool Kenn Tolland Down End Theale Littleton Leigh upon Mendip Amitabha Buddhist Centre Martock Stawell Willhayne Coombe Shoscombe Vale Worthy Tyning Thorne St Margaret Up Mudford Worlebury Standerwick Upper Littleton Fromefield Nettlecombe Northend Hicks Gate Slough Green Winterhay Green Mells Croscombe Luckwell Bridge Brockley Stoke Sub Hamdon Blackmoor Wambrook Tyning Hawkcombe Norton Horsey Lipyeate Norton's Wood Marston Gate Andersfield Blackford Selworthy Belluton Bramwell Heale Voxmoor East Horrington Higher Vexford Hillfarrance Bawdrip Withy Mills Thurlbear Escott Cothelstone Mells Green Horsington Charlynch Rackley Periton Comeytrowe Stoney Stratton Hockholler Green Knoll Green Netherclay Herons Green Hale Field Barrow Common East Huntspill Yarley Tone Hillend Chidgley Lower Weacombe Andersea Wiltown Rotcombe North Curry Blagdon Hill Winterfield Ford West Buckland Combe Easton East Lyng Lower Marston Bare Ash Milton Othery Cary Fitzpaine Dinnington Vole Bickham Congresbury Southtown Nettlebridge West Hewish Hockholler Waterrow New Cross Forton Hastings Chilton Cantelo Wheddon Cross Lympsham Tytherington Englishcombe Norton Malreward Berkley Marsh Stone Allerton Saltford The Oval Trudoxhill Shoreditch Bayford Chedzoy Poleshill Wincanton Batch Wigborough Alstone Knowle Withycombe Nash Brean St Michael Church Stockland Bristol Hornblotton Green Knowle St Giles West Pennard Henstridge Ash Stanton Prior Marston Magna North Barrow Woodlands Spring Gardens Priston Thorne Coffin Northover Coursley Alston Sutton Latcham Hadspen Sherford Cotford St Luke Sampford Arundel Curry Mallet Puddlebridge Chard Langham Withypool Durnfield Swell East Lydford Moorlinch Higher Burrow Sandford Wellington Staplegrove Shurton Biscombe Rook's Nest Corfe Clevedon Yeovil Tatworth Wraxall Hill Corner Double Hill North Weston Withybrook Hardway Kingsway Ham Street Wembdon Temple Cloud Birchwood Farleigh Wedmore Kingsbury Episcopi Ebdon Chelynch Newtown Moorland or Northmoor Green Shiplate Tunley Marshall's Elm Amesbury Stoke Trister Seavington St Mary Huxham Green Sidbrook Radstock Keyford Closworth Stockwood Vale Skilgate Cowbridge Withial Cloford Common Midsomer Norton Keynsham Leighland Chapel Mare Green Compass East Water Pendomer Halcon North Newton Butleigh Wootton Little London Stapleton Washbrook Southwick Huntstile Upper Fivehead Dunwear Downside White Hill Stathe Dunkerton Ruggin Rapps Nailsea Stockwitch Cross Langford Budville Knighton Rockwell Green Tracebridge Babcary West Coker Norton Fitzwarren Charlton Musgrove Shepton Montague North Wootton Foxcote Higher Street Doniford Lower Durston Beckington Galhampton Redlynch Welham Combe Down Shopnoller Ilford Felton Pickney Portbury West End Butleigh Huish Champflower Yarford Woollard Claverham Stewley Dolemeads Pear Ash Cambridge Batch Watchet Knole Bicknoller Nether Stowey Wrington Yenston Three Ashes Curload Pinksmoor Otterford Chiselborough Chapel Cleeve Haybridge Burrington North Wick Langley Marsh Milverton Hurcott Lillesdon Redhill Durston Langford Green Clarence Park Downhead Paintmoor Hare Queen Camel Buckland Down North Batsom Wearne Donyatt Athelney Nunney Lower Knapp Purn Woolston Stolford Bourne Castle Fowler's Plot Hounsley Batch Horn Hill Treborough Green Ore Tivington Knowle Hambridge Furnham Chapel Leigh Ashwick Farmborough Leighton Moolham Chilton Polden Lyng Somerton Fairfield Park East Coker Primrose Hill Combe St Nicholas Locksbrook Lottisham Tivington Blatchbridge Shearston Wonderstone New Town Compton Bishop Little Keyford Higher Marsh North Widcombe Elborough Weston Hatch Beauchamp Priorswood Stawley Melcombe Greenway Clanville Woolminstone South Hill Ashcott Corner Henley Greylake Fosse Lopen Street Heath House Hewish Fox Hill Pitney Lower Roadwater Midway Fyfett Highbury Whatley Combwich Pathe Runnington Kelston Sparrow Hill Little Load Dipford Stone Ley Whitchurch Cutler's Green Battleton Mearns Kingstone Ston Easton Sawyer's Hill Marksbury Catcott Locking Capland Carlingcott Hartford Wick Holnicote Witcombe West Porlock Wheathill Thorngrove East Hewish Langridge Fennington Combe Throop Greenham Witham Friary Walrow Buscott Haselbury Plucknett Cricket Malherbie Odd Down North Coker Coley Cheddar Stapley Stout Littleton Oareford Chew Magna Coppleham Chilthorne Domer Edbrook Draycott Toulton Weare Goosenford Sheepway Cameley Dyche Whitestaunton Park End Keinton Mandeville Whatley Plot Gate Staple Lawns Tucking Mill Pyrland Kingsdon Easton-in-Gordano Way Wick Crimchard Walford Combe Florey Splatt Frost Hill Pawlett Hill Upcott Hartswell Winscombe Heathfield Hardington Tuckerton Piltown Drayton Spaxton Middle Chinnock West Bagborough Compton Common Greylake Beechen Cliff Upper Milton Chelwood East Harptree West Newton Parkway Shepton Mallet Yarrow Horton Cross Chilson Common Staple Fitzpaine Westbury-sub-Mendip Broadshard West Lydford East Town Seavington St Michael Brushford New Town Ilton Maperton Hillcommon Chipley Shepton Beauchamp Meadgate West Chinnock Stone-edge Batch Norton St Philip South Twerton Brent Knoll Simonsbath Burrowbridge Barton Cushuish Ammerham Burton Speckington St Catherine Silver Street East Town Wall Mead Cutcombe Cranmore Whitney Bottom Kilton Somerdale Hinton Charterhouse Brockham End Vobster Bradney Walpole Hollands Chilcombe Ham Northway Five Bells Weston in Gordano Newbridge Doverhay Hamp Walton St Mary North Brewham Sutton Mallet Upper Vobster Great Elm Stogumber Merriottsford Nethercott Rock Bincombe Corton Denham East End Knott Oak Westcombe Bruton Puxton Upton The Wrangle West Horrington Coxbridge Enmore Hawkridge Hembridge Lower Westholme Henstridge Marsh Biddisham Clatworthy Lower Langford Winsford Rodgrove Upper Cheddon Cockhill Ham Green East Quantoxhead Westonzoyland Burtle Beckery Whiteway Ashwell Wick Mudford Sock Over Stratton Terhill Bridgwater Chaffcombe Ilchester Mead Nythe Compton Pauncefoot Bankland Old Ditch Limington West Leigh Preston Bowyer Charterhouse Rooks Bridge Norton Hawkfield Compton Dando Single Hill Lulsgate Bottom Milborne Port South Cadbury Backwell Common Perrymead Stowell Meare Street Dulverton Porlock Otterhampton Vellow Woodspring Priory West Hatch Lansdown Bagley Green Dowlish Ford South Petherton Huntham East Bower Shipham Yarlington Compton Durville East Lydeard Bishop's Hull Oxenpill Fenny Castle Porlockford Midford Potters Hill Bulls Green Staplehay Long Sutton Vagg Ashton Portfield Brympton D'Evercy