Capital Gains Tax
When you want to dispose of something, such as a business or personal asset which has increased in value, you must pay Capital Gains Tax – this tax is payable on the profit you make when selling an asset.
Capital Gains Tax
At Total Tax Accountants, we are proud to be the leading Capital Gains Tax Accountants in High Wycombe, offering unparalleled expertise and professional services to our clients. Capital Gains Tax (CGT) can be a complex area of taxation, but our team of dedicated accountants is here to simplify it for you. Whether you’re selling a property, shares, or a personal possession, if you’re making a profit, you may be liable for CGT. Our role as your Capital Gains Tax Accountants is to ensure you understand your tax obligations and help you minimise your liability through effective tax planning.
But our services extend beyond just CGT. We are also specialists in the preparation of Year-End Accounts. We understand that the end of the financial year can be a stressful time for businesses. That’s why we’re committed to providing a seamless, efficient service to ensure your accounts are accurate and submitted on time. Our team in High Wycombe is known for its meticulous attention to detail and commitment to client satisfaction. We take pride in our ability to provide personalised, professional services that meet the unique needs of each client. Choose Total Tax Accountants as your trusted partner for all your accounting needs. With us, you’re not just getting an accountant; you’re gaining a partner dedicated to your financial success.
Capital Gains Tax Rates 2023/24
For the tax year 2023/24, the basic Capital Gains Tax (CGT) rates in the UK remain the same as the previous year. The annual exemption amount for individuals and estates is £6,000, reduced from £12,300 in 2022/23. Most trusts have an annual exemption of £3,000, down from £6,150. The tax rate for individuals up to the basic rate limit is 10%, and for amounts above the basic rate limit, it’s 20%. Trusts and estates also have a tax rate of 20%. However, gains on residential property and receipts of carried interest are taxed at 18% and 28% for individuals, and 28% for trusts and estates. Business Asset Disposal Relief (BADR) is available on qualifying gains of up to £1m at a rate of 10%.
The capital gains tax allowance for the 2023/24 tax year in the UK has seen a significant reduction, decreasing by more than 50% from its 2022/23 threshold of £12,300 to £6,000. This reduction is set to continue, with plans to halve the allowance again in April 2024. The implications for investors are considerable, as this could increase tax pressures and erode gains. However, there are routes available to mitigate these changes and potentially make considerable savings on annual CGT bills, such as tax-efficient investment options.
Capital Gains Tax Calculation and Planning
Navigating the complexities of Capital Gains Tax (CGT) can be a daunting task. That’s where Total Tax Accountants, the leading Capital Gains Tax Accountants in High Wycombe, step in. We specialize in providing comprehensive CGT Calculation and Planning services tailored to your unique circumstances. Our team of seasoned Capital Gains Tax Accountants is committed to ensuring you understand your tax obligations and potential liabilities. We meticulously calculate your CGT, taking into account all applicable reliefs and exemptions, to ensure you pay no more than necessary.
But we don’t stop at calculation. Our CGT Planning service is designed to help you make informed decisions about your assets. We provide strategic advice to minimise your future tax liabilities, helping you to maximize your profits. At Total Tax Accountants, we believe in proactive, personalized service. We’re not just crunching numbers; we’re providing a roadmap for your financial future. Choose us for your Capital Gains Tax Calculation and Planning needs in High Wycombe, and experience the difference professional, personalised tax services can make.
Asset Disposal Advice
At Total Tax Accountants, we understand that disposing of an asset can have significant Capital Gains Tax (CGT) implications. As the premier Capital Gains Tax Accountants in High Wycombe, we offer expert Asset Disposal Advice for Capital Gains Tax to help you navigate this complex process. Our team of experienced Capital Gains Tax Accountants will guide you through each step of the asset disposal process. We’ll help you understand the potential tax liabilities and provide strategic advice to minimise your CGT. Whether you’re considering selling a property, shares, or a business, we’re here to ensure you make informed decisions that align with your financial goals.
At Total Tax Accountants, we pride ourselves on our personalised approach. We take the time to understand your unique circumstances and tailor our advice accordingly. Choose us for your Asset Disposal Advice for Capital Gains Tax in High Wycombe, and experience the peace of mind that comes from knowing you’re in expert hands.
Capital Gains Tax Return Filing
Filing a Capital Gains Tax (CGT) return can be a complex and time-consuming process. That’s where Total Tax Accountants, the leading Capital Gains Tax Accountants in High Wycombe, come in. We offer a comprehensive service for Capital Gains Tax Return Filing, ensuring your returns are accurate, compliant, and submitted on time. Our team of expert Capital Gains Tax Accountants is well-versed in the intricacies of CGT legislation. We’ll meticulously calculate your taxable gains, taking into account all applicable reliefs and exemptions, and complete your CGT return with precision.
But our service goes beyond just filing. We also offer strategic advice to help you minimize your future CGT liabilities. At Total Tax Accountants, we believe in proactive tax management, and our goal is to help you make the most of your assets. Choose us for your Capital Gains Tax Return Filing needs in High Wycombe, and experience the peace of mind that comes from knowing your tax affairs are in the hands of professionals.
How we can help you. Its easier than you think !
You fill up our
online form
We study your requirements
Bingo! You get
our support
How we can we help you
The above information is merely for guidance purposes – it is important to seek expert advice from a financial adviser who can help you understand all the overlapping taxes and potential opportunities for capital gains tax relief.
Our solicitor will work with you to make sure you pay only what you owe and that you are able to benefit from all the reliefs you qualify for. Don’t pay more than you have to and stay off HMRC’s radar.
Contact us now for a free initial consultation: phone number. Our professional solicitors and financial consultants will offer unbiased advice, helping you save potentially thousands of pounds.
