Wingate Accountants – Capital Gains Tax Advice
At Wingate Accountants, we provide expert Capital Gains Tax (CGT) advice to individuals and businesses looking to manage their tax liabilities effectively. Whether you are selling property, shares, or other assets, our experienced tax advisors can guide you through the process and help you reduce your tax burden where possible.
What is Capital Gains Tax?
Capital Gains Tax is a tax on the profit – or gain – you make when selling certain assets, such as property, shares, or cryptocurrency. You do not have to pay CGT if your gains for the tax year are below your annual tax-free allowance.
With frequent changes to CGT rules, advance tax planning is crucial. Our expert tax advisors can review your asset portfolio and financial goals to provide tailored advice, ensuring you take full advantage of available tax reliefs and exemptions.
Capital Gains Tax Services
Our specialist CGT accountants assist clients with a wide range of scenarios, including:
- Selling buy-to-let properties and second homes
- Transferring properties to family members tax-efficiently
- Business restructuring and share disposals
- Capital Gains Tax planning for trusts
- Advice for non-UK residents and overseas property sales
- Offsetting Capital Gains Tax losses
- Minimising tax on business sales, shares, or property transactions
If you are considering making a voluntary disclosure, contact us for a free, confidential, and no-obligation discussion.
Capital Gains Tax Allowance 2024/25
For the 2024/25 tax year, the personal CGT allowance is £3,000, a significant reduction from previous years. Married couples and civil partners may be able to combine their allowances for greater tax efficiency. Strategic end-of-year planning is essential to ensure all allowances are fully utilised.
Capital Gains Tax Advice for Individuals
We regularly advise individuals on their CGT liabilities, whether from the sale of shares, property, or other valuable assets. If you are an accidental landlord, have inherited property, or are selling investments, our team can guide you on the most tax-effective way to proceed.
Capital Gains Tax Advice for Businesses
Our corporate tax experts advise businesses and shareholders on potential CGT liabilities arising from:
- Selling or restructuring a business
- Disposal of land, buildings, and assets
- Share transfers and corporate reorganisations
- Business Asset Disposal Relief (formerly Entrepreneurs’ Relief)
Business Asset Disposal Relief (BADR)
BADR allows eligible business owners to reduce their CGT rate to 10% on qualifying disposals. However, from April 2025, the rate will increase to 14%, and from April 2026, to 18%. Planning ahead is key to maximising this relief.
Capital Gains Tax on Property
Landlords and property investors often face significant CGT liabilities. Our expert team advises on:
- Private Residence Relief (PRR) for main residences
- Lettings Relief for landlords renting out former homes
- CGT implications of selling investment properties
- Tax-efficient strategies for property disposals
Since October 2021, CGT on UK residential property sales must be reported to HMRC within 60 days to avoid penalties.
Capital Gains Tax for Non-UK Residents
Non-UK residents disposing of UK property may have CGT liabilities. If you return to the UK within five years, UK tax may still apply. Our advisors can assess your situation and ensure compliance while minimising tax exposure.
Offsetting Capital Gains Tax Losses
If you sell an asset at a loss, you can offset this against gains made in the same tax year or carry it forward to future years. We can assist in ensuring you maximise these reliefs.
How Wingate Accountants Can Help
At Wingate Accountants, we provide clear, strategic CGT advice tailored to your needs. Our tax specialists ensure you comply with HMRC regulations while optimising your tax position. We offer an initial consultation to discuss your circumstances and provide a transparent fee quote.
Get in touch today to discuss your Capital Gains Tax planning.
More enhance with details
