Capital Gains Tax Returns & Advice

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Capital Gains Tax is the tax on the profit when you dispose of an asset that has gone up in value.

Disposals of shares, businesses, property, investments and other assets all need to be considered carefully against the CGT rules.

The numbers can be substantial and the difference between a well-planned disposal and an unadvised one is often the difference between a manageable tax charge and a significant one that could have been materially reduced with earlier input.

The rate of CGT depends on the type of asset and the position of the individual. Various reliefs can reduce or defer the charge if the conditions are met.

Business Asset Disposal Relief, Investors Relief, Gift Hold-over Relief, EIS deferral and rollover relief all have their own qualifying tests that need to be checked carefully.

Our team works closely with you to understand your disposals to ensure you make the most of the relief available to you.

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How we deliver Capital Gains Tax advice

The most valuable CGT work is done before the disposal. Once contracts are signed, the position is largely fixed.

We work with clients on the structuring decisions in advance, including the timing of the disposal, the use of available reliefs and the planning around losses or carried-forward positions.

Where the disposal has already happened, we calculate the gain accurately, identify the reliefs that apply and report the position correctly.

Our expertise

Pre-disposal planning and structuring
Business Asset Disposal Relief and Investors Relief
Gift Hold-over Relief on transfers of business assets
Rollover relief and reinvestment relief
EIS and SEIS deferral relief
Principal Private Residence relief
60-day reporting for UK residential property disposals
Crypto asset gains and losses
Share disposals, including EMI and unapproved option exercises
Non-resident CGT and the rules on UK property
Loss planning and use of carried-forward losses

Where the disposal is part of a wider transaction, the CGT analysis sits alongside the corporate tax, the personal tax and the deal structure.

We co-ordinate across the firm so the position is considered as a whole rather than as separate fragments.

What you can expect
from our CGT team

Three things define our CGT work:

Engaged before the disposal

We are most useful before the asset is sold. The reliefs available, the timing of the disposal and the structuring around the transaction are all easier to optimise before the position is fixed by contract.

Technically grounded

Business Asset Disposal Relief, EIS qualifying conditions, the share identification rules and the various reliefs all have detailed conditions. We work through the legislation rather than applying assumptions and the analysis is documented so it stands up to scrutiny later.

Joined up with the wider picture

A disposal does not happen in isolation. The interaction with personal tax, Inheritance Tax, the use of losses and the wider planning around the family or the business all need to be considered. We hold the picture together.

Individuals come to us on CGT because they want a trusted adviser who guides them through the structuring decisions before the disposal happens – when the planning is still possible – rather than an accountant who records the outcome of decisions already made.

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Why choose Macalvins?

Macalvins is a Top 100 UK accountancy firm, with years of experience helping clients to manage their Capital Gains Tax liabilities.

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Insights

Frequently Asked Questions

What rate of CGT will I pay?

The rate depends on the type of asset and your other income. From 30 October 2024, the main rates were aligned for most assets, with separate rates continuing to apply to residential property and to certain qualifying disposals such as those benefiting from Business Asset Disposal Relief. We will work through the specific rate that applies to your disposal based on the current rules and your position.

Can Business Asset Disposal Relief still help us?

Yes, for qualifying disposals of shares in a personal trading company or of business assets. The lifetime limit is £1 million and the rate of relief has changed in recent years. The qualifying conditions, including the holding period, the personal company test and the trading status of the company, all need to be checked. We confirm whether the relief is available before the disposal proceeds.

Capital Gains Tax