Capital Gains Tax in Hatton

Get in touch

Capital Gains Tax Advice in Hatton

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 Hatton (Warwickshire)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Newhall Green Bentley Churchover Willey Marlcliff Marston Shelfield Green Mappleborough Green Barton Dunnington Barcheston Shuttington Bascote Marston Kineton Ufton Lighthorne Rough Crimscote Dean's Green Budbrooke Bidford-on-Avon Avon Dassett Weethley Outhill Whitemoor Hunningham High Cross Trap's Green Model Village Bodymoor Heath Wilmcote Wolvey Heath Mousley End Packmores Broadwell Chesterton Birdingbury Ryton-on-Dunsmore Astley Cathiron Little Walton Curdworth Ettington Clifford Chambers Keresley Newlands Leicester Grange Marston Doles Billesley Lea Marston Fulready Toft Bourton on Dunsmore Stockingford Ratley Middleton Bridge Town Attleborough Hampton Lucy Lower Green Leamington Hastings Shelfield Coleshill Radford Semele Dordon Bradley Green Ballard's Green Hartshill Caldecote Exhall Haselor Burton Dassett Easenhall Offchurch Lye Green Kenilworth Alveston Arrow Haseley Green Bearley Weethley Gate Shipston-on-Stour Cock Bevington Coalpit Field Grandborough Warmington Henley-in-Arden Morton Bagot Walton Long Lawford Seckington Little Britain Stoneleigh Ryton Preston Bagot Goodyers End Dunsmore Ashow Honington Little Compton Turner's Green Kemps Green Ailstone Barton-on-the-Heath Piccadilly Stoneton Beausale Darlingscott Hunts Green Atherstone on Stour Neal's Green Kitebrook Alcester Burton Hastings Pillerton Hersey Finwood Priory Hall Hawkesbury Lime Tree Village Cubbington Kite Green Stretton-on-Dunsmore Forshaw Heath Little Packington Temple Grafton Weddington Hallend Nether Whitacre Ascott Binton Lower Brailes Heathcote Brownsover Wharf Sawbridge Bentley Common Bubbenhall Brinklow Monwode Lea Admington Coughton Fields Temple Herdewyke Leek Wootton Harborough Parva Foul End Stratford-upon-Avon Princethorpe Barnmoor Green Little Morrell Oversley Green Little Warton Bramcote Mains Chessetts Wood Nuneaton Baxterley Little Wolford Marton Moor Grendon Charlecote Burmington Corley Cole End Northend Lowsonford Lower Binton King's Newnham Ingon Ilmington Bramcote Aspley Heath Cliff Gibbet Hill Green End Littleworth Luddington Nethercote Bilton Priors Marston The Green Wimpstone Alvecote Newnham Gross Green Griff Broom The Spring Little Shrewley Bermuda Polesworth Newbold on Avon Aston Cantlow Yew Green Lower Clopton Yarningale Common Bishop's Itchington Heath End Marston Jabbett Abbot's Salford Over Whitacre Knightcote Chesterton Green Water Orton Lower Norton Hopsford Kites Hardwick Tidmington Shrewley Lower Shuckburgh Welford-on-Avon Clifton upon Dunsmore Upper Tysoe Exhall Woolscott Arlescote Shottery Hill Top Botts Green Upper Quinton Weethley Bank Howe Green Halford Binley Woods Great Wolford The Cape Little Kineton Whichford Bascote Heath Campion Hills Barnacle Bulkington Monks Kirby Spernall Whitacre Heath Maxstoke Armscote Holywell Pillerton Priors Ansley Common Alderminster Hurley Oldbury Brockhurst Blackdown Draycote Middle Tysoe Withybrook Mount Pleasant Guy's Cliffe Street Ashton Stourton Hill Top Deppers Bridge Wasperton Galley Common Snitterfield Honiley Devitts Green Ullenhall St Johns Chadshunt Baginton Blunt's Green Plough Hill Ashorne Furnace End Brandon Tanworth-in-Arden Grendon Wood Bevington Buckley Green Stockton Bedworth Woodlands Ardens Grafton Little Alne Bishopton Stoke End Winderton Sherbourne Hampton on the Hill Harbury Baddesley Clinton Milverton Waste Green St Helena Lighthorne Harborough Magna Wood End Corley Moor Collycroft Upper Brailes Nuthurst Southam Blackwell Pathlow Whateley Wishaw Bedworth Heath Rugby Dunchurch Freasley Iron Cross Whitnash Fenny Compton Warton Flecknoe Willoughby Black Bank Wellesbourne Hollyhurst Drayton Norton Lindsey Royal Leamington Spa Littlewood Green Kinwalsey Wootton Wawen Terry's Green Ladyes Hills Alveston Hill Hill Wootton Five Ways Atherstone Tredington Alne End Long Itchington Gilson Preston Green Kingswood Brook Mancetter Warwick Wood End Danzey Green Chapel Green Frankton Marton New End Wixford Outwoods Barford New Bilton Napton on the Hill Church Lawford Corley Ash Walcote Duke End Grove End Shelford Hall End Burton Green Sambourne Sutton-under-Brailes Willington Lower Quinton Hill Combrook Wood End Wappenbury Gilbert's Green Little Lawford Long Compton Tiddington Wolston Bishop's Tachbrook Beaudesert Shotteswell Whitestone Bridge End Emscote Wibtoft Stretton under Fosse Thurlaston Lighthorne Heath Ladbroke Camp Hill Idlicote Longbridge Myton Hampton Magna Shilton Lawford Heath Newton Salford Priors Moreton Paddox Farnborough Oxhill Upton Newbold Pacey Pinley Green Chilvers Coton Coughton Greystones Ansty Weston-on-Avon Fillongley Oldberrow Wolverton Copston Magna Allen End Red Hill Cherington Priors Hardwick Bearley Cross Preston Fields Woodloes Park Shustoke Wroxall Church End Bedworth Church End Hurley Common Old Arley Loxley Long Marston Eathorpe Chapel End Tomlow Claverdon Baddesley Ensor Preston on Stour Hartshill Green Lillington Newton Regis Tipper's Hill Ash Green Austrey Hunningham Hill Alne Hills Windy Arbour Chapel Green Newbold-on-Stour Old Milverton King's Coughton Ridge Lane Rowington Green Whatcote Bretford Radway Cloudesley Bush Ansley Studley Overslade Edge Hill Edstone Grendon Common Wolvey Robinson's End Lower Tysoe Haseley Knob Hoggrill's End St Nicolas Park Edgehill Moreton Morrell Kingswood Stretton-on-Fosse Rowington Hatton Cosford Whittington Blyth End Earlswood Lapworth New Arley Tachbrook Mallory Haseley Weston under Wetherley Gorcott Hill Cawston Birchley Heath Chattle Hill Butlers Marston Copt Green Pailton Crackley Wormleighton Stareton Wolfhampcote Stourton Hill Dorsington Kingsbury Weston in Arden Middletown Hillmorton No Man's Heath Langley Green Cranhill Nebsworth Birchmoor Gaydon Tattle Bank Langley Great Alne