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Capital Gains Advice​

Expert planning to help you minimise your capital gains tax (CGT)

Our specialist tax advisors will create a tailored plan to help you maintain your wealth. 

Download our free guide - 11 things you need to know about capital gains​

Capital Gains Tax (CGT)

Capital gains tax can quickly become complex, surrounded by a myriad of rules and time scales.
 
You are taxed on the profits you make from disposing of an asset, this means an amount of tax is applied to the profit you have made. 
 
However, with careful planning, and the correct advice, it is possible for you to significantly reduce the amount of capital gains tax paid. That's where Klarity Tax can help you. 
 
Here is some additional information on the gains that are taxed and the assets that are exempt from capital gains tax.
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Gains that are taxed under CGT when sold/disposed of:
 

  • Property

  • Possessions sold above £6,000 

  • Shares/ Unit Trust Investments

 
Assets that are Exempt from CGT:
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  • Private Cars

  • National Savings

  • Your Home

  • Any possessions sold for less than £6,000

  • British Government Securities and Corporate Bonds

  • ISA’s

  • Qualifying Life Policies

  • Shares from Enterprise Investment or Seed Enterprise Investment Schemes (Income Tax Relief MUST be intact)

  • Shares in Venture Capital Trusts

  • Shares under an employee shareholder agreement

  • Gifts to Charities

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Gains/Receipts that are Exempt from CGT:
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  • Lottery, pool and Gambling Winnings

  • Mortgage Cashbacks

  • Personal & professional Damages
     

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Tax Free Allowance

As of 2019/2020, each person is entitled to £12,300 worth of Capital Gains each financial year before they have to pay tax.

Married Couples/Civil partners:

  • Each spouse/partner is treated separately and has their own personal allowance of £12,300. Couples can transfer Capital gains between each other without incurring CGT as long as they are living together. 

  • Once a couple separates, or are living separately, this benefit no longer applies.

Find out how much capital gains tax you need to pay with our
free CGT calculator. 

"Very close to the end of January this year I required additional work to be undertaken on a detailed Capital Gains Tax matter extending back some twenty three years. Within two days I had received a quotation for this work and in less than a week my tax return for the year ended April 5th 2019 had been amended and updated together with the Capital Gains Tax calculations ready prepared on my behalf for submission to HMRC.
 
I was most impressed by the personal attention given to this matter by Klarity Tax. It was dealt with extremely promptly and efficiently by means of emails, a personal secure portal system for the exchange of information, and a couple of 'phone calls and I cannot speak more highly of the service provided by Klarity Tax."

Mr Dench

Klarity Tax can help you

Klarity Tax have 60 years experience in helping individuals manage their tax and maintain their wealth. Our specialist tax advisors will work with you and created a tailored plan to help you to maintain your wealth. 
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To find out how we can help you, contact us or speak to a tax specialist on a free consultation call. 
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Next Steps

Speak to us for advice on how we can minimise your capital gains tax. 

0333 577 2201

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