Service 07
Capital Gains Tax
When you sell a property or another chargeable asset, Capital Gains Tax can take a big bite. We work out what's due, apply the reliefs you're entitled to, and file it correctly - so there are no surprises after the sale.
What we do for you
If you have sold a capital asset at a profit, you may be required to declare the gain and submit a Capital Gains Tax return. There are exceptions, so it is worth checking where you stand. Failure to report on time is likely to result in interest and penalties. At Sandwell Accountancy Services, we ensure that everything is done effectively and efficiently to ensure your tax return is submitted on time. Get in touch to find out how we can help you.
What's included
How it works
- 01 A first conversation, free of charge We talk through how capital gains tax works, and what we would need from you. You leave knowing what we would do and what it would cost.
- 02 Getting set up You authorise us to deal with HMRC on your behalf. We agree what we need from you and when.
- 03 CGT Return We prepare your return from your records. You see the figures and approve them before anything is filed.
- 04 Filing and payment Once you have approved the return we file it digitally, tell you what is due and when. This is all done within 60 days of selling the property, and payment is through your personal HMRC account for capital gains tax.
More about this service
When Capital Gains Tax applies
CGT can be due when you dispose of a chargeable asset – typically a property or investment – for more than it cost. It sits alongside Corporation Tax if you operate through a limited company, and alongside inheritance-tax planning on personal wealth. We calculate what is due and apply the reliefs that fit the disposal.
Selling an asset and not sure what CGT will do?
Tell us what you are disposing of and we'll work out the position.