Capital Gains Tax
Capital Gains Tax advice and reporting
Selling or giving away an asset can create a Capital Gains Tax liability. We'll help you work out the gain, consider the relevant reliefs and deal with the reporting required.
Capital Gains Tax can arise when an individual sells or otherwise disposes of an asset that has increased in value.
Baldwin's Accountancy Services can calculate the tax position, consider relevant allowable costs, losses and reliefs, and deal with the appropriate reporting to HMRC.
Where possible, clients can also speak to us before a proposed disposal so the potential tax position is understood before the transaction takes place.
What we can help with
Understanding the disposal
Rental and second properties, shares, investments and other chargeable assets, including calculations and advice before a proposed disposal.
Working out the position
Calculating capital gains and losses, considering allowable acquisition and disposal costs, qualifying improvement expenditure and relevant reliefs, including Private Residence Relief where applicable.
Dealing with reporting
Preparing UK property Capital Gains Tax returns and reporting gains through Self Assessment where required.
Property disposals
Selling a rental or second property?
The gain is not simply the amount you receive on sale. We'll work through the figures and the circumstances of your ownership to establish the tax position.
Not every cost qualifies for relief. We'll review the expenditure and supporting records, together with any relevant reliefs and available capital losses.
Support for landlordsWhat the calculation may include
- The purchase price and sale proceeds
- Qualifying buying and selling costs
- Qualifying capital improvement expenditure
- Your ownership share
- Relevant reliefs and available capital losses
The 60-day property reporting deadline
If you're a UK resident and Capital Gains Tax is due following the disposal of UK residential property, you generally need to report the disposal and pay the tax within 60 days of completion.
If you're already within Self Assessment, the disposal may also need to be included on the relevant tax return. The property reporting deadline should not be left until that return is due.
Non-UK residents have different reporting requirements, which can apply even when no tax is payable. We'll check which rules apply to your circumstances.
Last reviewed:
Was the property once your home?
Private Residence Relief may affect the Capital Gains Tax position where a property has been your main home.
We'll consider the ownership and occupation history to establish whether relief applies and how much of the gain it covers. Having lived in the property does not automatically make the whole gain exempt.
Private Residence Relief (GOV.UK)Shares, investments and other assets
Capital Gains Tax is not limited to property. We can also help calculate and report gains or losses on shares, investments and other chargeable assets within our normal service scope.
Other gains can commonly be reported through Self Assessment, depending on your circumstances and reporting requirements.
Before the transaction
Planning a disposal?
If you're considering selling a property, shares or another significant asset, it can be useful to understand the tax position before the disposal rather than after it.
We can calculate the potential tax consequences and consider relevant reliefs, losses and timing, so you understand the position before completing the transaction.
Discuss a proposed disposalWhat we'll need
The information depends on the asset and your circumstances. Useful starting points include:
- Acquisition date and cost, and disposal date and proceeds
- Legal and agent costs, with details of qualifying improvement expenditure
- Previous capital losses and other disposals during the tax year, where relevant
- The property's occupation history, where relevant
We'll let you know what else is needed to prepare the calculation and any return.
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