Capital Gains Tax Reporting Services
Sold a property, shares, or other chargeable asset? You may need to report and pay Capital Gains Tax (CGT) to HMRC within strict deadlines and getting it wrong can mean penalties or overpaying. Morgan Reach’s chartered accountants handle CGT reporting for individuals, landlords, and businesses across Birmingham and London, making sure your figures are accurate and your filing is on time.
What Is Capital Gains Tax Reporting?
Capital Gains Tax is charged on the profit you make when you sell or dispose of an asset that has increased in value, most commonly residential property that isn’t your main home, but also shares, business assets, and valuable possessions. UK residential property sales generally must be reported to HMRC within 60 days of completion, with any tax due paid in the same window.
Who Needs to Report Capital Gains?
– Landlords selling rental property
– Individuals selling a second home or inherited property
– Investors disposing of shares or investment funds
– Business owners selling business assets or shares
– Anyone who has made a chargeable gain above the annual exempt amount
Our Capital Gains Tax Reporting Service
– Calculating your taxable gain, including allowable costs and reliefs
– Preparing and submitting your CGT return within the 60-day deadline
– Advising on reliefs that may reduce your bill (Private Residence Relief, lettings relief, Business Asset Disposal Relief, and more)
– Coordinating with your annual Self Assessment so figures match up
– Flagging deadlines in advance so you are never caught out
Why the Deadline Matters
Missing the 60-day reporting window triggers automatic HMRC penalties, even if no tax is ultimately owed. We build the deadline into our process from the moment you instruct us, so reporting happens on time, every time. If you are also weighing up how a sale fits your wider tax position, our accountants in Birmingham can advise across the whole picture.
