Capital Gains Tax

Capital Gains Tax

Ackland Webb Accountants

If you have disposed of a capital asset, you may need to complete a tax return. We help you understand your obligations and complete the relevant documents. We also let you know whether you owe any capital gains tax.

Thinking of selling a property, asset or investment?

From 6 April 2020, the rules relating to the disposal of residential property are changing. From that date onwards, you’ll need to report such disposals to HMRC within 30 days of the sale (rather than in your annual personal tax return). This is especially relevant to landlords. Other changes are being introduced, including restriction of statutory residence exemption and withdrawal of residential lettings relief.

We always recommend getting advice on capital gains tax before selling property, assets or investments. Getting it wrong can have lead to paying too much tax or suffering error penalties. Sometimes, there are simple steps that you can take to reduce your overall tax bill, so it is always worth seeking advice before you undertake a transaction and afterwards to report it to HMRC.

If you would like to discuss how we might assist you, please contact us for a no-obligation initial meeting.

Return to Private Clients ›

"Every individual has an annual allowance of £12,300. Make sure you own assets jointly to maximise any tax-free gains."

"David provided invaluable advice and encouragement throughout the company start-up and beyond, dealing with issues promptly and efficiently.”
Director of Law PracticeKent
"Ackland Webb has taken time to understand my business and personal accountancy needs. They've helped me to shape my business properly, giving important advice on growth and sustainability”
PTCanterbury
"David has worked on a number of my cases as a forensic accountant. He has been able to balance thoroughness and determination to get the correct information, with sensible pragmatism at a cost effective price.”
MRMaidstone
"After a chance meeting I was enlightened to what my expectations of accountancy should be, and promptly appointed them as my business and personal accountant. I recommend them whole-heartedly.”
PTCanterbury