Capital Gains Tax

Effective from April 2020!
Are you Ready?

  • Do you own a residential or second property?
  • Are you selling a property?
  • Do you know about Capital Gains Tax?
  • Are you aware of the deadlines to respond, get your tax return completed and provide your self-assessment questionnaire in time?

This is becoming a more serious issue with property owners both UK and international and if left, can lead to serious consequences, fines and more!

The budget will determine this taxation figure, what we can do, is help you be prepared and be protected.

We are offering all our customers and new customers a special peace of mind Capital Gains Tax Review. To book your complimentary Review, please contact your local office of Rana & Co Accountants Ltd, or click here to book your discovery call and ask for Capital Gains Tax Review to be scheduled in.

About to Sell Residential Property?

Within 30 days of the sale;

  • Any tax due needs to be paid
  • A tax return needs to be submitted

From 6th April 2020 any UK resident selling a UK residential property has new obligations.

They will not only need to calculate whether they have a tax bill, but if so, they will need to pay the tax over and submit a new return to HM Revenue & Customs within 30 days of the sale completing.

This is a tight timescale to collate the details and calculate the tax due as well as ensure the tax due is kept to a minimum. We help you by providing upfront details of what is needed to help keep your tax bill down.

If there is significant period prior to the sale, then it may be possible to undertake some tax planning to further reduce your tax bill.

A non-UK resident has similar obligations in respect of the sale of any UK land, residential or commercial property.

If you are thinking of selling UK property, please speak to us as soon as possible to ensure we can help you keep your tax bill to a minimum.

We can help take away the stress and hassle of completing and submitting property Capital Gains Tax Returns. The UK Capital Gains Tax rules are quite complex and ensuring tax bills are correct can be a difficult task.

On top of which the time scales are very tight for calculating the tax, as well as submitting the tax payment and tax return. The deadline is within 30 days of the property sale completing.

We ensure the tax return is accurate and submitted on time as a bare minimum. We go much further than this.

We strive to save as much tax now and going forward.

We offer three levels of Tax Service; you just select the level of service that suits you and your requirements; use cookies and other similar technologies on this website to improve your browsing experience and functionality of our site. By clicking “I accept cookies”, you consent to the storing on your device of all the technologies described in our Cookies Policy.
Contact 01332 270906