Tax Returns
CGT Returns
A tax levied on the profit made on the sale of any non-inventory qualifying assets is called Capital Gains Tax. Our CGT service includes planning your disposal, determining your options and filing your CGT return. From 6 April 2020, the government brought new rules on reporting and paying the Capital Gains Tax (CGT).
Who will need to submit the cgt return?
Who Needs CGT Returns?
Generally, the 60-day CGT return rule applies to the taxpayer who usually complete their personal tax return, which includes:
Individual taxpayers
Joint owners of the residential property
Partners in general partnership and limited liability partnership (LLP)
Trustees of a trust
What information do we required?
Information We Required
The following information is required before you complete the CGT return:
Property address and postcode
The date you got the property, exchanged contracts, stopped being the property’s owner
Value of the property when you got it, sold or disposed it
Costs of buying, selling or making improvements to the property
Property type, if you are a non-resident
The estimated taxable income, details of other disposals already made
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