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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u525869493/domains/taxzeta.com/public_html/wp-includes/functions.php on line 6114Are you a UK resident looking to navigate the complexities of Capital Gains Tax (CGT) returns? Our team of experienced professionals is here to help you and ensure compliance with HMRC regulations.
If you’ve disposed of residential property, understanding your obligations regarding CGT is essential. The CGT Return allows you to report and manage any tax liabilities associated with the sale or disposal of residential properties in the UK.
The 60-day CGT return rule typically applies to taxpayers who regularly file their personal tax returns, including individual taxpayers, joint owners of residential properties, partners in general partnerships and limited liability partnerships (LLPs), trustees of trusts, etc.
The deadline for filing CGT return is within 60 days of the completion of the disposal. The 60-day countdown begins from the completion date, not the exchange date. The payment is also the same as for the CGT return and any delays may lead to penalties and interest being imposed.
Any disposal of UK residential properties falls within the scope of the 60-day rule, which encompasses various forms such as sale, gift, grant of lease out of residential properties, transfer via deed or declaration of trust, and transfer through any other means.
In the UK, individuals have an annual exemption for CGT of £12,300 for 2022/23 which has been reduced to £6,000 for 2023/24. This means that each tax year, you can make gains up to the annual exempt amount without incurring any CGT liability.
We are specialist accountants and tax advisers for your property business! The service delivered by our qualified and experienced team is tailored as per your needs. Our accomplished tech-embedded service with exceptional property tax insight makes us stand out from the rest.
Our team of qualified tax professionals specialises in CGT matters. We have an in-depth understanding of the UK tax regulations and can provide accurate advice tailored to your specific situation.
Filing a CGT return can be complex, but we’re here to simplify the process for you. Our experts will guide you through every step, ensuring you understand your obligations, available deductions, and any reliefs you may be entitled to.
CGT returns must be submitted within 60 days of the disposal of the asset. With our prompt service, you can rest assured that your CGT return will be filed accurately and on time, avoiding any penalties or unnecessary stress
We strive to optimise your tax position by exploring all eligible deductions and reliefs. We also provide proactive tax planning advice to ensure you stay ahead of potential tax implications and make informed financial decisions.
By entrusting your CGT return to us, you can focus on what you do best while we handle the tax compliance aspect. We take pride in providing a reliable and efficient service, giving you peace of mind during tax season.
Our services are competitively priced, providing excellent value for the expertise and quality we offer. We work with you to find the most cost-effective solutions that meet your accounting needs without compromising on the quality of service.
Our work is centered around innovation, efficiency, collaboration, and delivering exceptional results to our clients.
As property professionals, we naturally wanted to find a firm with strong sector experience and chose UKPA as an integral member of our power team. Working with Yuki and Bipin is an absolute delight, as is the high level of customer service that they provide to us as clients of the firm. I would highly recommend all property professionals to engage UKPA as their accountants.
UKPA have given exceptional support in recent months, by far the easiest to work with and with a great volume of understanding about the situations they were presented with. They also assisted clearly and with full commitment in an urgent situation, flawlessly meeting the need. I have no hesitation in my decision in using UKPA for all future accounting matters for business.
UK Property Accountants came to the rescue when I discovered that I need to register my property quickly, as an overseas entity. They were very professional from start to finish and highly recommend them.
I would like to say a big thank you to Christina who works at UK property accountants. Christina has been personally handling my accounts for the last year and she has made the whole process smooth. Christina has made complex situations very simple and when any issues arise she has always managed to a provide fast solution. Her communication is 10/10 and is far superior to any other accountant that I have previously worked with. Thank you Christina!
I have used UK Property accountants services. I am very grateful and happy with their service. The entire time are very knowledgeable and straight to the point. All my doubts were explained in a way I could understand, all my emails were promptly answered. PETER, RAJ and SIMRAN, thank you so much for your professionalism and efficiency. I had a very pleasant and positive experience. Highly recommended!
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