Capital Gains Tax.
Nobody looks forward to working out what they owe after selling a property, especially with the clock already running. At Newton & Co, we handle your Capital Gains Tax return and payment, and make sure you're not missing a relief you're entitled to.
What it is, and who it's for.
If you've sold a residential property that wasn't your main home, a rental, a second home or one you've inherited, you may need to report the gain and pay Capital Gains Tax (CGT), the tax on the profit from something you sell, within 60 days of completion. We handle the calculation, the return and the payment on your behalf, so you're not working it out under time pressure.
It suits landlords, anyone who's inherited a property, and anyone who's sold a second home or investment property. If you're gifting a business asset rather than selling it, we can also look at whether gift holdover relief applies.
What we handle for you.
Everything below is handled for you, from the calculation to the deadline.
We work out the actual gain, using the costs and reliefs you're entitled to.
Reported and paid within the 60-day deadline, so there's no penalty to worry about.
If you're gifting a business asset rather than selling it, we can look at whether the tax can be deferred to whoever receives it.
No jargon, just the figures and how we got there.
Get in touch before completion and we'll tell you what to expect.
The 60-day deadline moves fast. With Newton & Co, you'll stay inside it.
Missing the reporting deadline on a property sale can mean a penalty on top of the tax itself, so it pays to get it moving quickly. Natalie Basilisco ATT, CTA leads on this for individuals and landlords, and you'll deal with her directly.
Direct contact with a director
You'll know who's handling it.
We move quickly
The deadline is tight, so we don't sit on it.
Get in touch as soon as the sale completes.
Tell us about the sale and when it completed.
Using the costs, dates and reliefs that apply.
Reported and paid within the 60-day deadline.
We'll tell you what's due and when, so there are no surprises.
Things people ask.
Can't see yours? and we'll happily talk it through.
How long do I have to report a property sale?
You must report and pay Capital Gains Tax on most UK residential property sales within 60 days of completion. We can get this moving as soon as you tell us the sale's gone through.
Does this apply if I'm selling my own home?
Usually not. Your main home is normally covered by Private Residence Relief, the relief that generally covers gains on the home you actually live in, so CGT tends to apply to second homes, rental properties and inherited property.
What's gift holdover relief?
It's a relief that lets you pass a business asset to someone else without paying CGT straight away. The tax is deferred until they eventually sell it, rather than falling on you now.
How much does it cost?
It depends on the property and how many reliefs need working through. We'll be straight with you about what's involved, and what it'll cost, before anything starts.
Often paired with.
We handle Capital Gains Tax returns for clients across Jarrow, South Tyneside, Newcastle and the wider North East, remotely across the UK, and for people living and working overseas.
Let's get your CGT return sorted, before the deadline creeps up.
Have a quick chat and we'll tell you exactly what's involved.
Prefer a call back?
Leave your details and we'll ring you at a time that suits.