Capital Gains Tax

Capital Gains Tax needs to be paid to HMRC when possessions or assets is sold worth more than £3000.00 at the point of sale but only on the profit.

The asset can be many items including compensation claims, gifts, transfer of ownership, business assets,  residential properties (not your main home), buy-to-let properties etc.

Capital Gains Tax on UK property needs to be reported to and paid to HMRC within 60 days of the disposal. 

Ann Richards can help you report this and calculate your liability as there are many reliefs available to reduce your tax liability.

Failure to report correctly and within the deadline will incur penalties.

Plan early so you can minimise your tax liability.