Key areas we advice on includes
Capital Gains Tax
Capital gains tax (CGT) is a tax on the increased value of your assets - such as a second home, antiques or shares - during the time you have owned them. Any tax is due when you dispose of them, usually by selling them or giving them away.
You may have to pay Capital Gains Tax even if your asset is overseas. There are special rules if you are a UK resident but not domiciled.
You must pay tax on gains you make on property and land in the UK even if you are non-resident for tax purposes. You do not pay Capital Gains Tax on other UK assets, for example, shares in UK companies, unless you return to the UK within five years of leaving.
Typical investments that you might have to pay capital gains include a second property or buy-to-let, shares and funds, the sale of a business and valuables such as jewellery, antiques, and art.
I. Deadline
If you sold your property after 6 April 2020, you must report and pay capital gains tax within 60 days of selling property in the UK.
You may have to pay interest and a penalty if you do not report gains on property within the time limit.
Property sales before 6 April 2020 come under the old rules, where any CGT due on the sale of property is payable by 31 January after the end of the tax year in which the sale occurred, which will generally be the same date you file your tax return.
II. Our Fees
Our annual fees starts from £240 for capital gains tax services.