Cohen Accountants are your trusted advisors for navigating the complexities of Capital Gains Tax (CGT) in North West London. With over 28 years of experience since 1995, we’ve built a reputation for providing clear, practical advice to individuals and businesses on how to manage CGT liabilities efficiently.
| Individuals | 2021/22 | 2020/21 |
|---|---|---|
| Exemption | £12,300 | £12,300 |
| Standard rate | 10% | 10% |
| Higher rate | 20% | 20% |
| Trusts | 2021/22 | 2020/21 |
|---|---|---|
| Exemption | £6,150 | £6,150 |
| Rate | 20% | 20% |
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, higher rates of 18% and 28% may apply to the disposal of certain residential property.
A capital gain arises when you dispose of an asset for more than its purchase price. This could involve property, shares, business assets, or valuable personal possessions. Understanding the rules around CGT is essential to ensure compliance and avoid unexpected liabilities. Our North West London tax advisors are here to help you manage this process effectively.
Individuals and business owners may be liable for CGT when disposing of certain assets. At Cohen Accountants, we help you:
Our goal is to ensure you remain compliant while taking full advantage of legal opportunities to minimise your tax bill.
Selling your primary residence? You may qualify for Principal Private Residence Relief, which can significantly reduce or eliminate your CGT liability. We’ll guide you through eligibility, documentation, and any potential limitations, ensuring you pay only what’s due.
With decades of experience in North West London, we offer:
We’re committed to delivering reliable, honest advice you can trust.
In many cases, Principal Private Residence Relief will apply. We’ll confirm your eligibility and ensure correct reporting.
Anyone who disposes of chargeable assets, such as property (other than their main residence), shares, or business assets, may need to report a gain to HMRC. We can help determine whether you’re required to file and ensure all reporting is done accurately and on time.
CGT is usually due within 60 days of completion for residential property. We make sure all deadlines are met to avoid penalties.
Whether you’re disposing of property, investments, or business assets, Cohen Accountants in North West London can guide you through the CGT process with confidence and clarity.
Book your free consultation today.
Call us on 020 8203 6323 | Email info@cohen-accountants.com