- 0191 447 9119
- office@lscaccounting.co.uk
Navigate CGT complexities with confidence. From property sales to business disposals, we provide clear, strategic tax planning for individuals and business owners in Sunderland, Durham, and across Tyne and Wear.
Capital Gains Tax can apply when you sell or dispose of an asset that has increased in value, such as a second property, shares or investments. It is the gain, not the full sale value, that is assessed.
At LSC Accounting, we help you understand whether Capital Gains Tax applies, calculate the gain accurately and explain what needs to be reported. You will know what is due, when it needs to be paid and what happens next.
We accurately calculate your potential CGT bill, ensuring all eligible costs, improvements, and reliefs are accounted for to minimize your tax exposure.
Specialist support for the 60-day reporting window on residential property sales, ensuring you meet strict HMRC deadlines and avoid penalties.
Expert guidance on Business Asset Disposal Relief (formerly Entrepreneurs' Relief) to help you keep more of your hard-earned profit when selling your business.
We review your assets before you sell, identifying timing strategies and exemptions to ensure your disposal is as tax-efficient as possible.
Our Capital Gains Tax service gives you a clear answer on what you owe and what needs to happen next. We bring the figures together, apply relevant allowances and help you meet HMRC reporting requirements with confidence.
Selling an asset such as property, shares or investments can create a tax liability that is not always obvious. The rules around Capital Gains Tax depend on the type of asset, your income, available reliefs and how quickly the gain needs to be reported.
We provide clear advice and accurate calculations so you understand your position before you submit anything to HMRC. If a report is needed, we help you prepare the information correctly and submit it within the required timeframe.
For UK residential property, HMRC normally requires Capital Gains Tax to be reported and paid within 60 days of completion. Other capital gains may be reported through Self Assessment or HMRC’s real-time Capital Gains Tax service, depending on the situation.
Capital Gains Tax is charged on the profit made when you sell or dispose of certain assets. The tax-free allowance is called the Annual Exempt Amount, and HMRC guidance currently lists this at £3,000 for individuals.
The amount you pay depends on the gain, your income level, the type of asset and whether any reliefs or losses apply. This is why it is important to calculate the position properly before submitting anything.
You provide details of the asset and the transaction, including purchase and sale information. We then calculate the gain, apply any relevant allowances and explain the outcome in clear terms.
Once everything is confirmed, we guide you through the reporting process and ensure your obligations are met correctly and on time.
Fast-Turnaround Reporting: With HMRC’s 60-day rule for property, our local team ensures your returns are filed accurately and on time.
Jargon-Free Advice: We translate complex tax law into simple, actionable steps so you understand exactly where you stand.
Direct Partner Access: Speak directly to a qualified accountant in Shiney Row who understands your specific financial situation.
Capital Gains Tax commonly applies when selling a second property, disposing of shares, transferring valuable assets or selling business assets. Each situation can involve different rules, allowances and reporting requirements, which is why accurate advice is important.
Book a free call and get clear answers on what you owe and what to do next.
Clear, quick answers to the questions we hear most from North East businesses. If you do not see your question here, get in touch.
Capital Gains Tax is a tax on the profit made when you sell or dispose of an asset that has increased in value. It is the gain, not the total sale amount, that is taxed.
In some cases, such as property sales, gains must be reported within a set timeframe after completion. We will ensure you understand and meet the correct deadlines.
Yes. There are annual allowances and specific reliefs that can reduce your tax liability. We ensure these are applied correctly based on your situation.
You may need to pay Capital Gains Tax when selling property that is not your main residence. We can calculate this accurately and guide you through the reporting process.
Yes. We can review your position in advance so you understand the potential tax implications before making a decision.
If a sale has already taken place, we can calculate the gain, ensure it is reported correctly and help resolve any outstanding obligations with HMRC.
From day-to-day bookkeeping to year-end accounts, we keep your finances tidy and compliant so you can run the business. Choose from our six core services below and we’ll tailor a fixed-fee plan that fits how you work.
Tidy books, clear numbers. Monthly or quarterly management accounts you can act on.
Start your company the right way. Companies House and HMRC setup with clear next steps.
Company accounts made simple. Statutory accounts and corporation tax filed on time.
