Capital Gains Tax

When a person or a company has an asset that isn’t for sale or part of their stock-in-trade, capital gains are made as the value of these capital assets increases.

Trust that Nordens will take care of your capital gains tax reporting and payment, protecting you from any mistakes or unintended overpayments or underpayments. We’ll be there for you every step of the way.

Who has to pay Capital Gains Tax?

Capital Gains Tax or CGT is a tax on the profit when you sell something that you own and it has increased in value compare to the original purchase price. This item/asset will have been owned by you for more than a year.

What items/assets would normally pay CGT on?

• Second proprieties
• Inherited properties
• Shares
• Investments
• The sale of a business
• Assets transferred

How much CGT could I be expected to pay?

This all depends on the tax rate that you pay and the type of item/asset that you are selling.

CGT on residential propertyCGT on other assets
Basic-rate taxpayer18%10%
Higher/additional rate taxpayer28%20%
This is what will be charged after your personal tax allowance has been taken into consideration.

The Capital Gains tax-free allowance is:
• £12,300
• £6,150 for trusts

Once this has all been determined, you will need to report this information either through a real-time tax service or in your annual self-assessment tax return.

Our premium service is intended to assist you, the taxpayer, with the preparation, reporting, and submission of your capital gains tax returns. Regardless of the complexity of your CGT issue, our ACCA-certified accounting staff has you covered.

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