Service Details

Capital Gains Tax

Capital Gains refers to any ‘gain/profit’ made when you sell an asset and can also refer to assets that have not been sold but may have been given away to a family member for example. It can also refer to assets where ownership has been transferred to someone else, where an asset has been exchanged for another and even where compensation has been received for loss or destruction of the asset.

One of the most common problems with Capital Gains is that many people will come to us ‘AFTER THE FACT’ i.e. after the asset has been sold. Don’t panic though as there are certain claims that are still available if you find yourself in this position though you may have missed out on others!

Planning is key to mitigating any Capital Gain and as such it is important that you seek advice where possible BEFORE the ultimate sale takes place. We at Eagle Accountancy (UK) Ltd can assist you which ever part of the process you find yourself in by maximising claims where applicable and providing you with advanced planning assistance and tools to ensure you only pay the tax you need to pay. The amount of Capital Gains Tax (CGT) that may be due can depend on numerous factors:

  • Whether you are a standard or higher rate tax payer
  • Whether you are entitled to a reduced rate
  • The type of asset involved including whether it is a business asset or personal asset
  • Whether there are any reliefs that can be claimed
  • Whether sold by an individual, a partnership or a limited company
  • Whether any Exemptions and/or restrictions are in place
  • What the date of the sale and original purchase date is can affect the tax payable also.

We at Eagle Accountancy (UK) have significant experience in the above and can advise you on all the above and more. With all these things to consider it can be overwhelming though at Eagle Accountancy we will maximise all the reliefs and exemptions we can which very often can make it possible to eliminate any potential tax liability.

Eagle Accountancy are here to help you with all aspects of Capital Gains on Land & Property, Shares & Investments, Second Homes, Private Residences, Letting Exemptions, foreign Properties and many others and will provide detailed advice in plain English.

Our Capital Gains Tax Service includes the following:

  • Calculation of your Capital Gain and the associated Tax calculations
  • Free initial assessment of your Capital Gain and advice thereon
  • Full Capital Gains Tax planning BEFORE and/or AFTER the sale where appropriate
  • Full advice and guidance on what exemptions/reliefs/claims are available
  • Advice on when and how to pay
  • Any HMRC enquiry as a result of your Capital Gain

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