Capital Gains Tax Accountant

Capital Gains Tax is the tax you pay on the gain or profit you make when you sell, give away, or dispose of an asset such as shares or property.

If you make a capital gain that exceeds your annual capital gains tax exempt amount or is in excess of the HMRC limit, you will need to register for self assessment by 5th October following the end of the tax year and submit a tax return and pay any tax due by 31st January following the end of the tax year. The tax return needs to be submitted by 31st January if you file online or 31st October if you send a paper return.

In many ways, Capital Gains Tax is a voluntary tax because, with careful planning, it is often possible to reduce, totally avoid or delay payment of any Capital Gains Tax due.

It is far easier to plan for this in advance, and we can advise you on the ways in which you can mitigate the tax including:

  • Use of exemptions
  • Claiming all allowable deductions
  • Use of reliefs such as Entrepreneurs Relief, Principal Private Resident Relief, Lettings Relief
  • Use of inter spousal transfers
  • Timing of sale
  • Use of Rollover relief and holdover relief

Vanilla Online accountants have a wide range of experience as capital gains tax accountants, in particular as property accountants and work with many landlords and property owners to reduce their tax bills.

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