The disposal of an asset could be subject to Capital Gains Tax unless that asset is considered exempt. Common chargeable assets include:

• Your main residence, unless fully covered by private residence relief (e.g., some larger properties or if you haven’t lived in the property for the whole period of ownership)
• Commercial property
• Rental property
• Shares (excluding those held in ISA or PEP)
• Business assets
• Personal property worth over £6,000 (excluding your car)

At Right UK Accounting, we are experienced and knowledgeable in all areas of Capital Gains Tax (CGT) covering the disposal of assets for businesses and individuals. The rules can be complex but our expertise in CGT helps our clients to understand:

• which assets are chargeable?
• which reliefs can be claimed?
• how to report CGT issues accurately and on time?
• all other possible impacts of CGT

Our experienced team of accountants specialized in Capital Gains Tax will work closely with you to ensure that you effectively manage the sale of your personal and commercial assets and minimize your tax liabilities. CGT can apply to disposals of different types of assets, including property, shares, private assets, and business assets. One of our dedicated accountants will be assigned to you to make it easy for you to understand the complex rules surrounding CGT. We are always available to provide clear and transparent communication on any accounting issues you may have, and we are always approachable and accessible.