Understanding Capital Gains Tax...

Have you made a gain? There’s a form for that, and we can assist you with it.

Have you sold a second home recently? Cashed in on some shares or crypto? Or maybe you gifted something valuable to a loved one?

If you made a profit on anything like this, there’s a good chance Capital Gains Tax (CGT) is lurking and unfortunately, so is HMRC.

What exactly is Capital Gains Tax?

Think of it this way: if you bought something like a second property, some shares, or even cryptocurrency and later sold it for more than you paid, the profit you made (the "gain") is what HMRC wants to know about, and they want to tax it too.

It doesn’t matter whether you pocketed the cash or reinvested it. If there was a gain, there may be a tax bill, and depending on what you sold, when you sold it, and how much you made, the rules can get tricky fast.

The deadline you really don’t want to miss

If you sell a UK residential property and CGT is due, you have just 60 days from completion to report it and pay up.

If you miss that window, HMRC will start charging late-filing penalties, plus interest.

For other types of gains, like shares or crypto, you’ll usually report them through your Self-Assessment return.

The most common errors we see

You’d be surprised how often people get tripped up. Some think gifting a property to their children means no CGT (not true). Others assume crypto profits are too complicated to track (HMRC disagrees). And many are shocked to learn that just selling a holiday home overseas could trigger a reportable gain, even if they didn’t make that much money from it.

Then there’s the maths. Working out your gain isn’t always as simple as sale price minus purchase price. What about refurbishment costs? Legal fees? Inherited values? Different types of relief? The rules are full of “ifs,” “buts,” and “maybes” and that’s where we come in.

So, how can we help?

In short: we take the stress off you. You tell us what you sold, we look at the numbers, make sure you're claiming everything you're entitled to, and file the report accurately and on time.

No panic. No surprises. No “uh-oh” moments further down the line.

Whether you’ve sold a rental property, hit the jackpot on crypto, or you're just not sure whether CGT applies to your situation we’ll talk it through with you, ,making the complex simple'.

Next Steps

The best time to speak ETC about Capital Gains Tax is before you sell. But if the clock is already ticking on a recent sale, don’t panic, as we can help you get it sorted quickly and correctly. Get in touch and we will help you out!