top of page

Capital Gains Tax

Whenever you make a gain, HMRC want a slice of the action.  Most often we are calculating gains on land transactions but gains can arise in many places.

This is a complex area of tax and while at its core it can be simplified down to:

How much you get for the thing...

                         

                  Minus how much you paid for the thing...

      Times by tax rate of 20% (most assets) 28 (residential property)

The real complication come in the second part, how much you paid for the thing.

In the case of land or farming business asset, it normally comes with a long and rich history that may have involved numerous passing of hands, trusts, incorporations, and splits.

It's our job to work through the complication and get the right amount reported to HMRC which can be required in as little as 30 days for residential property.

bottom of page