Capital Gains Tax (CGT)
Capital Gains Tax (CGT) is payable when you sell certain assets, such as property or shares. If gains exceed the allowance, you must declare them to HMRC. Based in Rochdale, we offer expert support across Manchester and the rest of the UK.
Accurate CGT calculations and reporting
Tailored advice for property, assets and investments
Support with HMRC deadlines & reducing penalties
About Capital Gains Tax
What is Capital Gains Tax?
Capital Gains Tax is a tax on the profit you make when selling or disposing of assets such as property, shares, vehicles, cryptocurrency, jewellery or collectibles. Losses made can be offset against profits, and selling costs can also be deducted to reduce your CGT bill.
If your overall gains for the year exceed the tax-free annual allowance, you must declare them on your self-assessment tax return. In some cases, such as with property that is not your main home (for example, a buy-to-let, holiday home, or inherited property), you are required to report the sale and pay any Capital Gains Tax due to HMRC within 60 days of completion.
Experts Since
2010
Key CGT Rules and Deadlines
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All profits above your annual allowance must be reported to HMRC.
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Losses can reduce your taxable gains; selling costs are deductible.
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For property sales (not your primary residence), you must declare and pay CGT to HMRC within 60 days of completion, and also include the gain in your next self-assessment tax return.
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The Land Registry notifies HMRC of all property sales; missing a CGT deadline can result in significant penalties.
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If you miss a deadline, making a voluntary disclosure to HMRC can reduce the penalty compared to waiting for HMRC to discover the gain.
WHEN TO HIRE A CAPITAL GAINS TAX ACCOUNTANT
Why You Might Need an Accountant
Navigating Capital Gains Tax can be complex and the rules change frequently. An accountant ensures you remain compliant with HMRC, claim all available reliefs and allowances and avoid costly mistakes.
Common reasons you might need a Capital Gains Tax specialist:
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Multiple or high-value assets: If you sell more than one item or asset, or if the sale value is high, calculating what is due can be complex.
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Property disposals: Special rules apply if you sell property that is not your primary residence, and the reporting deadline is strict.
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Deadlines and penalties: Missing the 60-day property deadline or the annual tax return deadline can result in substantial fines.
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Reliefs and deductions: An accountant can identify all allowable costs (such as legal fees, improvements and periods you lived in the property) to reduce your liability.
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Voluntary disclosure: If you have missed a deadline, disclosing voluntarily to HMRC usually results in lower penalties.
BENEFITS OF SPECIALIST CGT SUPPORT
Why Choose Whittaker Accountants
At Whittaker Accountants, we provide clear, practical advice on all aspects of Capital Gains Tax. We specialise in supporting clients with complex sales and ensure you meet every deadline.
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Expert calculations and reporting: We accurately calculate your CGT, including all deductions and allowances, for property, shares and other assets.
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Specialist property guidance: We help you meet the strict 60-day deadline for property sales and ensure everything is declared correctly.
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Penalty reduction: We support voluntary disclosures to HMRC to minimise fines if a deadline has been missed.
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Personalised service: Every client receives tailored advice; whether you are selling a family asset, second home or investment property.
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Ongoing support: We keep you updated with the latest CGT rules and ensure you never miss a critical deadline.
READY TO GET STARTED?
Book Your Free Capital Gains Tax Consultation
If you are planning to sell assets or property, or have already made a sale that may result in a CGT bill, Whittaker Accountants is here to help. Our team will calculate your Capital Gains Tax, submit all returns and guide you through the process to ensure compliance with HMRC.
Contact us today to book a consultation and find out how we can help you manage your Capital Gains Tax easily, accurately and with peace of mind.
Our working process
How our service works
Understanding Your Needs
We start with a consultation to understand your unique circumstances, requirements, and goals so we can provide tailored accounting and tax solutions.
Creating a Strong Plan
Based on your needs, we develop a clear, structured plan for your accounting, tax, and compliance services, ensuring you’re fully supported.
Delivering the Service
Our expert team handles your accounts, tax returns, and filings efficiently and accurately, keeping you compliant and stress-free throughout the year.
Ongoing Support
We’re always available for questions, advice, and support, helping you stay on track and make confident financial decisions as your needs evolve.
FAQs
Frequently asked accounting questions answered
Do I really need an accountant for my tax returns?
While it’s possible to do it yourself, an accountant ensures your tax returns are accurate, compliant, and optimized for any deductions or reliefs you’re entitled to. We save you time, reduce stress, and help you avoid costly penalties.
What services do Whittaker Accountants offer?
We provide a full range of services, including self-assessment, personal/business tax planning, business tax, VAT & PAYE support, company formations, bookkeeping, credit control, and assistance with tax disclosures and discoveries.
Will hiring an accountant save me money?
In many cases, yes. Our team identifies ways to reduce your tax liabilities, ensures compliance, and minimizes penalties. We focus on making sure you only pay what you owe — no more, no less.
How do I switch to Whittaker Accountants?
It’s simple! Get in touch, and we’ll guide you through every step. We can also contact your previous accountant to make the handover seamless and stress-free.
What industries do you work with?
We work with a wide range of industries — from sole traders and freelancers to growing businesses and established companies across Rochdale, Manchester, and the UK. Whatever your sector, we can help.
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Testimonials
What Our Clients Say
SueW-231553
11 Jul 2024
Exceptionally professional, highly recommended
I have been using their accounting services for 3 years, and Sarah has been exceptionally professional and helpful. Having run an e-commerce business with several accountants, I can confidently say she is the best one. Highly recommended.
GaryF-482
11 Jul 2024
Reliable , reasonable and easy to work with
Been using sarah for years , absolutely great service , reasonable prices and can’t do enough for you. Defiantly wouldn’t go anywhere else
StuartO-2
08 Jan 2024
Great service
really professional company and outstanding service
ZairabZ
03 Nov 2023
Zenith Lawyers LLP
Whittaker Accountants are exceptional when delivering accountancy services to our firm. Sarah is always available and will happily assist in matters. We admire the proactive approach and always offering solutions. Thank you so much for all you help over the years!
NaeemS-19
26 Oct 2023
Excellent!
Excellent service all round. Sarah is very approachable and has a very flexible manner.
LisaC-197
26 Oct 2023
Great service from Whittaker Accountants Ltd Highly recommended
Would highly recommend Whittaker Accountants Ltd to help you with all your accounting needs.