Capital Gains On Property
Our Accountants Provide Exceptional Capital Gains Tax Services
How Much CGT Will I have To Pay?
It is the question we are most often asked. The tax is applied on the gain made on a sale of assets, gifts, transfers or even asset swaps.
First we calculate the difference between purchase price and selling price. We take into account your annual exemption (tax-free allowance).
HMRC taxes on the remaining gain (with income taxpaying rate taken into account).
- Basic rate taxpayers will pay 18% on most assets.
- Higher/additional rate taxpayers will pay 24% on most assets.
Charges occur at higher rates for Capital Gains on property.
The Annual Exempt Amount (AEA) for the 2025/2026 tax year is £3000. Any unused allowance cannot be carried forward to the next year.
Why Choose Lakewater Accountants?
A Tailored Package With A Fixed One-Time Fee – We create a bespoke accounting package, taking into account your business goals. Our package comes with a fixed fee so you don’t have to worry about surprise bills.
Our Tax Consultants Specialise In Reducing Tax Liability – We examine the history of your assets to gain you convenient tax reliefs and deductions. We identify exemptions and reliefs to sales of assets, saving you loads on your tax bill.
We Offer An Unparalleled Tax Planning Service – Our personal tax accountants use a wide range of tactics to optimise your tax strategy. We secure the best deals whether its optimal timing on asset sales or spreading assets across family members.
Our London Tax Accountants Avoid Costly Mistakes – An honest mistake on your form can land you a fine of 30%. Our chartered accountants accurately report your income avoiding you penalties.
We Help Everyone – From sole traders selling second properties to investment companies with multimillion portfolios, we are here to help!
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What Is Included In Our Capital Gains Tax Service?
- CGT Application Assessment – We:
- Identify taxable events.
- Advise on exemptions.
- Help you qualify for reliefs/exemptions from CGT.
- Capital Gains Calculation – We determine the capital gain and help identify allowable costs with improving the asset that may be deducted from sale proceeds.
- Tax Relief & Exemption utilisation – we make sure that annual exemptions are utilised in full. We claim on Entrepreneur’s Relief, Private Residence Relief & more exemption schemes to minimise tax liabilities.
- Sales Timing Management – We time sales of assets to minimise your tax bill i.e by spreading asset sales across multiple tax years to make use of annual exemptions each year.
- Asset Sales Structuring For Tax Efficiency – We advise on how to structure asset sales in ways that improve tax efficiency. Our strategies are guaranteed to minimise your owed amount.
- Filing of Return – We correctly report your gains to HMRC and by the deadline.
- Tax Planning & Advice – Our accountants:
- Advise on how to minimise liabilities from potential Inheritance Tax (IHT) liabilities in future.
- Plan investments in ways that minimise CGT over time.
- Create strategies for protecting family wealth.
- Advice for International Capital Gains Issues – We advise on:
- Potential impact of double tax treaties between the UK & other countries.
- Implications of selling property while living abroad for non-residents.
- Tax compliance on offshore assets or investments.
- & many more
- HMRC Communications – We communicate with HMRC on your behalf dealing with inspections and dispute resolution and other communications.