Capital Gains Tax in Pagham

Get in touch

Capital Gains Tax Advice in Pagham

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