Capital Gains Tax in Coates

Get in touch

Capital Gains Tax Advice in Coates

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 Coates (West Sussex)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Boxgrove Atherington Turkey Island Temple Bar Westerton Stopham Runcton Greatham Trotton West Grinstead Hammerpot Cote Elmers Marsh Sompting Abbotts The, Close Coolhurst Wood Stockbridge Fernhill Albourne Green Coates Henfield Botolphs Durrington-on-Sea Sta The Common North Bersted Slough Green Gay Street Nuthurst Elmer Wick Ashfold Crossways Robins Sidlesham Common Nutbourne Broadbridge Eastergate Sidlesham Kingston by Sea Hermitage Coombes Kingston Gorse Sullington Warren East Dean Mid Lavant Singleton Maidenbower Rustington Broadford Bridge Broadbridge Heath Woodmansgreen Cuckfield Rackham Mackerel's Common Watersfield Upwaltham Rose Green Hole Street Tilgate East Preston East Lavant Codmore Hill East Hampnett West Kingston Three Bridges Findon Valley Barns Green Aldingbourne High Salvington Angmering East Ashling Sutton Navant Hill Didling Sutton End Abbotsford Summersdale Kirdford Patching Manor, The East Worthing Durrington Shermanbury West Town Somerley Pyecombe Heath End Upper Norwood Middleton-on-Sea Steyning Oakhill Park Street Langley Green Lambs Green Upperton Petworth Heyshott Green Bolney Tilgate Forest Row Bedlam Street Northchapel Terwick Common Poling Copthorne Fishersgate Littlehampton Great Common Woodmancote Itchingfield Beggars Bush Fernhurst Storrington South Ambersham Fontwell Henley Common Tullecombe Lower Fittleworth Hambrook Church Norton Buchan Hill Adversane West End Slaugham Goose Green Shoreham Beach Cootham Churchwood South Harting Yapton Blackwell Wineham West Lavington Coneyhurst Bucks Green Bignor Borden East Grinstead Broadfield South Lancing North End Nutbourne Brooks Green Hatch Farm Hill Wiggonholt Stedham Tangmere Haywards Heath Broomer's Corner Selham Black Corner Lurgashall Nyewood Small Dole Saxby Trotten Marsh Rock Maudlin Hillgrove Houghton Waterbeach Sompting Hangleton Compton Oving West Hill Felpham Chidham Amberley Easebourne Hardham Dumpford Roffey Pulborough Partridge Green Sharpthorne Street End Balls Green Highleigh Albourne Smithbrook Keymer Lancing Sayers Common Crabtree Deanlane End Woodgate Rowhook Pagham Funtington Coolham Halecommon Brookpits Worthing West Chiltington Common Salvington South Stoke Mannings Heath Burpham Poynings Kent Street Bosham Hoe Lidsey Breach Merston Elbridge Ansty Handcross Whitemans Green Alfold Bars Marehill Turners Hill Wisborough Green Ford Worth Ancton Tisman's Common Horsham Shopwyke Baldwins Hill Crossbush Littleworth The Haven Ashurst Winterfold Forestside Dial Green Bepton Nutbourne Common Bury Hollow North Stoke Tinsley Green Bines Green West Thorney Gunter's Bridge East Lavington Offham Gorehill Hill Top West Dean Shipton Green West Wittering Burndell Walderton Washington Nepcote Lodsworth Common Pound Hill Walstead Fittleworth Castle Town Crockerhill Loxwood Colgate Eartham Dell Quay White's Green Prinsted Green Street Flansham West Ashling Ifieldwood Cinder Hill Sunnyside Horsted Keynes Bury Billingshurst Down Park Woldhurst Saddlescombe Little Bognor Lagness Chorley Common Worth Abbey Norton Warminghurst Cowfold Stubbermere Gospel Green Ingrams Green North Heath Iping Goddards' Green Birdham Flathurst Chichester Lodsworth Fyning Kingsfold Strood Green Wepham Aldwick Linchmere Bolnore Ifield Goose Green Coldwaltham Halfway Bridge Barnham Nep Town Dragons Green Durleighmarsh Goring-by-Sea Apuldram Bewbush Crabbet Park Lyminster Tortington Southgate Toddington Tillington Bexleyhill Heath Common Ifold Donnington Broomershill Northgate Broadwater Stonequarry Woolbeding Rusper South Mundham Bosham Bramber Hooksway Strood Green Byworth Ifield Green Lindfield New Town North Marden Whyke River Burgess Hill Warningcamp Midhurst Manor Royal Quebec Henley Clayton Madehurst West Stoke Portslade-By-Sea Heyshott Doomsday Green North Mundham Cocking Causeway Topleigh Little Common Warninglid Dial Post West Tarring Crouchers East Beach Southwater Street Hassocks Hurst Wickham Southern Cross Marley Heights Monk's Gate Poling Corner Ashington East Kingston Strettington Westergate Fishbourne Ardingly Earnley Pease Pottage Redford Lower Beeding Sullington Hurstpierpoint Old Shoreham Hammer Balcombe Lane Haslingbourne West Green Habin Shripney Kingsley Green Highbrook Staples Hill Plaistow Wiston Milland Balcombe Cocking Colworth Twineham Green Maplehurst Norton Titty Hill Rogate Whitehall Cross Gate Southwick Halnaker Bognor Regis Shipley Minsted West Chiltington West Itchenor Newpound Common Crosspost Lickfold Bilsham Charlton Climping Birchgrove Nyton North End Fisherstreet Queen's Corner Rudgwick Treyford East Harting Staplefield Blackstone Inlands Binsted Ebernoe Quags Corner Lowfield Heath Clapham Smock Alley Two Mile Ash Arundel Selsey Thorney Island Brook Street North Lancing Little Haven Parbrook West Worthing Westbourne Faygate World's End Rotherbridge West Burton Scayne's Hill Horsemere Green Leggatt Hill West Harting Nyetimber Camelsdale West Marden Rookwood Chithurst Shoreham-By-Sea Hampers Green Crawley Down East Marden Up Marden Lower Horncroft Southwater East Wittering Hickstead Westhampnett Furnace Wood Duncton Bedham Gossops Green Ferring Barlavington Hunston Thakeham Balls Cross Tower Hill Abingworth Fulking Bracklesham Slindon Woodmancote Upper Wardley North End Tote Hill West Hoathly Lumley Walberton Portfield Chownes Mead Hoyle Southbourne Shopp Hill Slinfold High Cross Chilgrove South Bersted Upper Beeding Findon Edburton Copsale Elsted Roundstreet Common Crawley Graffham Stoughton Five Oaks Wardley Twineham Furnace Green Rapkyns