Capital Gains Tax in Brunton

Get in touch

Capital Gains Tax Advice in Brunton

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 Brunton (Wiltshire)

Get in touch

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


Skip to

Gallery

Other locations available for capital gains tax
Conkwell Compton Bassett Bulbridge Biddestone Westwood West Crudwell Winterbourne Gunner Landfordwood The Fox Maiden Bradley Outmarsh Brook End West Overton The Strand Derry Hill Little Durnford Dertfords Etchilhampton Marston Hill Hilmarton Derry Fields Fugglestone St Peter Theobald's Green North Newnton East Grimstead Long Dean Downton Burbage Westbury Deptford Shaw All Cannings Laverstock Melksham Pewsey Upper Wraxall Vastern Cricklade Burton Purton Hoggington Devizes Dauntsey Lock Kingsdown Luckington Stoke Farthing Ratford Westcourt Hawkeridge Okus Fovant Broad Blunsdon Woolley Green Berwick St James Broughton Gifford St Katharines Crockerton Walcot Ogbourne St George Baydon Chiseldon Warminster Yarnbrook Bremhill Wick Thoulstone Hullavington Colerne Wolverton Hitcombe Bottom Gare Hill Westwells Corsham Alcombe Quidhampton Newton Charlton Pinckney Green Old Town Norton Bavant Market Lavington Hankerton Enford Fifield Milkwell Steeple Langford Avebury Avoncliff Nettleton Green Ford Pitts, The Birdbush Wilton Inglesham Rollestone Little Horton Durley Henley Haydon Boreham Corston Woodborough Hannington Leafield Morgan's Vale Chitterne Draycot Cerne Lower Studley Even Swindon Crooked Soley Broadbush Liddington Axford Great Bedwyn Semington Buck Hill Bowden Hill Eastrip East Hatch Sopworth Berwick Bassett Slaughterford Sem Hill Cloatley End Figheldean Little Marsh Upavon Easterton Sands Bishops Cannings Pinkney North Tidworth Coped Hall Calcutt Lake Higher Pertwood Poulshot Littleworth Redlands Fosbury Lower Everleigh Holt Dilton Marsh Longbridge Deverill Lower Moor Yatesbury Hampton Milkhouse Water Little Ashley Kington St Michael Sevenhampton Ferne Potterne Keevil Bulford Southbrook Reybridge Crockerton Green Ashton Common Berwick St Leonard Porton Elm Cross Maddington Stoford Haydon Wick Sells Green West Hatch Cotswold Community East Tytherton Sutton Mandeville Widbrook Bradford-On-Avon Castle Combe Horsedown Ham, The Upper Stratton East Town Cuckoo's Knob Compton Chamberlayne Charlton Chicklade Rook Street Lower Chute Longhedge Hook Street Knowle Freshbrook Berryfield Forest Hill Rodbourne Littlecott Easton Grey Marlborough Norton Ferris Bratton Bemerton West Chisenbury Monk's Park Semley Kepnal Sunton Bowerchalke Bowldown Coulston Eastcourt Sharcott Salisbury Strangways Calstone Wellington Chicksgrove Little Salisbury Southwick Castle Eaton Greatfield Rushall Ablington Orcheston Bradford Leigh Larkhill Hodson Milford Bohemia Buttermere Callow Hill Allington Hamptworth Lea Chapel Knapp Clanville Hinton Parva Ratfyn New Mill Draycot Foliat Bishopstone Easterton Eastcott Compton Ebbesbourne Wake Kingsdown Hailstone Hill Leigh Park Bushton Filands Thickwood Sawyers Hill Bugley Underhill Netton Christian Malford Waterhay Nursteed Ansty Easton Royal Gastard Lower Chicksgrove Tollard Royal Lower Stanton St Quintin Ridge Church End Stourton Winsley Baverstock Gomeldon Ballard's Ash Upper Inglesham Pitton Charlcutt Overtown Sodom Bewley Common Woolley Thingley Stockley Haresfield Stert Nomansland North End Long Cross Fiddington Sands Stibb Green Little Cheverell Upton Monkton Deverill Brook Waters Tuckingmill East Grafton Eldene Norrington Common Rudloe Hannington Wick Potterne Wick Preston Wootton Bassett Badbury Wick Dorcan Calne Marsh Pewsey Wharf Badbury Neston Chute Cadley Inmarsh Upper Upham Bradenstoke Lacock Odstock Lower Seagry Great Somerford Lower Wraxall West Dean Lydiard Green Chilton Foliat Ludgershall Bleet Codford St Mary South Newton East Winterslow Woodcock Littleton Panell Hisomley Dunkirk Corsley Heath Barkers Hill Cowesfield Green Broad Chalke The Barton Whaddon Kington Langley Lawn Beanacre Middle Winterslow Box Hill Broad's Green Eastcourt Conock Netheravon Norton Chisbury Lower Stratton Woodminton Marden Horsey Down Charnage Purlpit Foxley Kingshill Chittoe Grange Park Codford St Peter Mildenhall Homington Whitbourne Moor Alton Barnes Lower Wanborough Whittonditch Ugford Cuckoo's Corner Garsdon Tytherton Lucas New Town West Grafton Tidworth Westbury Leigh Straight Soley Durrington New Zealand Cross Keys Ashley Sherston Wadswick Clench Chelworth Lower Green Horton Murcott Blackland Westwood Brokenborough Ireland Mount Sorrel Chapmanslade Corton Blunsdon St Andrew Lover Greenman's Lane Haxton Cadley Holloway Manningford Abbots White Hill Milbourne Brunton Salterton Gorse Hill Tanis Sturford Whitley Whiteparish New Town Green, The West Hill Horningsham Pinehurst Startley Fifield Bavant Halfway Townsend Barrow Street Bishopdown Hurdcott Little Langford West Grimstead Malmesbury Lydiard Tregoze Causeway End Winterbourne Earls Whaddon Froxfield Temple Marston Cadley Woodfalls Woodsend Redstocks West Knoyle West Lavington Sherrington Boyton Ditteridge Fairwood Mere Tisbury Blue Vein Bullock's Horn Kilmington Milton Clatford Wroughton Oxenwood Braydon Side Farley Upton Lovell Horpit Draycot Fitz Payne Wootton Rivers Stapleford Lydiard Plain Restrop Chelworth Seagry Heath Huntenhull Green Hilperton Bapton East Everleigh Winterbourne Bassett West End Common Platt Chalford Shaw West Stowell Shalbourne Kellaways Fox Holes Winterbourne Monkton Donhead St Mary Southcott Peckingell Spirthill Coate Sutton Veny Nunton Heddington Upper Minety Allington Bar Ogbourne Maizey Atworth New Town Broad Street Collingbourne Ducis Brigmerston Westbrook Cloatley The Ridge Pole's Hole Teffont Magna Everleigh South Tidworth The Common Chelworth Upper Green Portash Urchfont Cherhill Britford Marston Meysey Cold Harbour Nettleton Crudwell Amesbury Fonthill Gifford Pewsham East Knoyle East Kennett Sambourne Harnham Henley Huish Seend Head Manningford Bruce Ham Green Fyfield Broomfield Misselfore Nine Elms Honeystreet Rodbourne Bottom Burcombe The Warren Ham Moredon Middle Woodford Foxham Trowbridge Stanley Avebury Trusloe Sandy Lane Bishopstrow Chilmark Worton Covingham Upper Woodford West Kington Hoopers Pool Grittleton Broad Town Ashton Keynes Lower Zeals Great Chalfield Hackthorn Hayes Knoll Sutton Row Middlewick Upton Scudamore Stockton Alton Priors Aldbourne Trowle Common Bottlesford Northbrook Cuckold's Green Westrop Yatton Keynell Green Hill Manton Hindon Chapel Plaister Heywood Ram Alley Chirton Catcomb Newtown Churchfields Short Street Park Rodbourne Collingbourne Kingston Hilperton Marsh Wingfield Erlestoke Clevancy Stitchcombe Ansty Coombe Brinkworth Bagshot Lockeridge Allington Upper Studley West Kington Wick Great Ashley North Wraxall Little Bedwyn Dinton Tockenham Studley Stanton St Bernard Goatacre Stormore Highworth Wick Heytesbury Ludwell Penhill Landford The Spa Milton Lilbourne Knapp Mile Elm Studley Green Patney Ford Wilsford Cholderton Wexcombe Rollestone Camp Seend Zeals Littleton Beechingstoke Giddeahall West Ashton Westlea Nettleton Shrub Upper Up Stanton St Quintin Steeple Ashton West Winterslow Bodenham Lydiard Millicent Wylye Lower Woodford Wedhampton Imber Nythe Tidcombe Limpers Hill Dauntsey Tytherington Crofton Longfield Oare Drynham Broad Hinton Upper Town Great Cheverell Turleigh Fittleton Leigh Delamere Winterbourne Stoke Hill Deverill The Common Mead End Ogbourne St Andrew Lower Blunsdon Purton Stoke Chedglow South Marston Latton Preston Mount Cowdown Charlton St Peter Knockdown Alderton Thornend Moor Green West End Hanging Langford West End Kinghay Serrington Upper Seagry Coombe West Amesbury Beckhampton The Banks Newton Tony Croucheston Norleaze Sutton Benger South Wraxall Common, The Oaksey Mid Wilts Way Penknap Avon Little Somerford Bowerhill Clench Common Chute Forest Boscombe Teffont Evias Manningford Bohune Clearwood Shute End East Chisenbury Easton Town Charlton All Saints Barford St Martin The Gibb Rockley Hook Rowde Farleigh Wick Bourton Coate West Kennett Wardour Longstreet Townsend Donhead St Andrew Dursley The Stocks Leigh Calne Box Low Bridge Alton Liden Greenwich Freshford Elcombe Winterbourne Dauntsey Highway Marr Green Staverton Langley Burrell Queen Oak Greenmeadow Idmiston Great Durnford Wilsford Bullenhill Notton Swindon Brokerswood Penleigh Hillside Kilmington Common Lockeridge Dene Great Wishford North Bradley Sedgehill Tockenham Wick Allington Berwick St John Little Chalfield Thornhill Toothill Newbury Bishopstone The Shoe Upper Chicksgrove Bulford Camp Willesley Upper Pickwick Lye Green Middlehill Coombe Bissett Warminster Common Alvediston Lavington Sands Knook Littleton Drew Widham Perham Down Stratton St Margaret Bulkington Roughmoor Roundway Foscote Marten Stanton Fitzwarren Ditchampton Cotmarsh Cleverton Newtown Bromham Gasper Quemerford Wilcot Fisherton de la Mere Dunge Corsley Swallowcliffe Swanborough Melksham Forest Bremhill Kingston Deverill Chute Standen Elston Easton Alderbury North Wroughton Stratford Sub Castle Heddington Wick Edington Normanton Rivar Minety Uffcott Stratford Tony White Cross Chippenham Seend Cleeve West Yatton Perry Green Eden Vale Shrewton Firsdown Monkton Farleigh Mountain Bower Netherhampton Tilshead Forewoods Common Aughton Milston Hilcott Brixton Deverill Fonthill Bishop Cold Harbour Knighton Westdown Camp Lyneham Lane End Bemerton Heath Purton Common Burton Pickwick Whitepits Great Hinton Fyfield Henfords Marsh Mooray Hudswell Upper Chute Wilton Redlynch Coombe Ramsbury Clyffe Pypard Wanborough The Linleys