Gain calculation
Proceeds, costs and allowable expenditure.
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Selling a UK property, shares, a business or other assets can create a capital gains tax bill, and UK residential property must usually be reported and paid within 60 days. We calculate your gain, apply the reliefs and allowances you are entitled to, and file the property return or Self Assessment entries on time, for UK residents and non-residents alike.
Most capital gains are reported in the Self Assessment return after the tax year ends. UK residential property is different: if tax is due, the disposal must be reported to HMRC and the tax paid within 60 days of completion. Non-residents selling any UK land or property must report within 60 days even when no tax is due.
Capital gains tax is charged on the gain made when you dispose of an asset, broadly the sale price less the purchase cost and allowable costs such as legal fees and improvement expenditure. Since 30 October 2024, gains are taxed at 18% where they fall within the basic rate band and 24% above it, for residential property and other assets alike. Each individual has an annual exempt amount of £3,000. Business Asset Disposal Relief can reduce the rate on qualifying disposals of a business or shares in a trading company, up to a lifetime limit, with the relief rate rising in stages after April 2025.
Reliefs can change the result significantly. Private residence relief can exempt the gain on your main home, wholly or partly, depending on periods of occupation. Gift hold-over relief and rollover relief can defer gains in some business situations, and losses on other disposals can be set against gains. For non-residents, UK land and property gains are taxable, generally by reference to the value at April 2015 for residential property or April 2019 for other property, unless an alternative method gives a better result.
We work out the gain on each available method, check the costs that can be deducted, apply reliefs and allowances and, for property, prepare and submit the UK property return within the 60 days. Where the seller is resident in Pakistan or another country, we also consider the double tax treaty and how the gain is taxed at home, so relief for UK tax can be claimed where available.
Capital gains are reported alongside other income in UK Self Assessment. Non-residents should also see UK non-resident tax services, and for planning before a sale, UK tax planning and advisory.
A fixed fee per disposal or return.
Proceeds, costs and allowable expenditure.
60-day return prepared and filed.
Share pooling and identification rules.
Business Asset Disposal Relief reviewed.
Main home relief calculated.
Losses offset and carried forward.
Rebasing methods and treaty relief.
Property return or Self Assessment entries.
These lead to penalties, interest and overpaid tax.
UK residential property must be reported within 60 days of completion.
We file on time.Non-residents must report even when no tax is due.
We report every sale.Improvement costs and fees not deducted.
We review costs.Private residence relief and BADR missed or miscalculated.
We apply reliefs.Non-residents not using the most favourable method.
We compare methods.Tax paid in two countries without treaty relief.
We consider the treaty.Ideally started before completion.
We check the disposal and reporting deadline.
Agreed per disposal.
Purchase, sale and cost documents.
Gain, reliefs and tax computed.
Return filed and tax paid.
Buy-to-let and second homes.
Including owners living in Pakistan.
Shares, funds and other investments.
Selling a business or shares.
Gifts and transfers between family members.
Gains around a change of residence.
Careful calculations and two-country awareness.
Property returns filed on time.
ACCA and ICAP Chartered Accountant qualifications.
Rebasing and reporting for owners abroad.
UK and Pakistan tax considered.
Easy contact from either country.
Per disposal.
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Tell us what you are selling and the completion date. We will confirm the deadline and quote a fixed fee.
Book your free consultationThis page is general information about our services, not tax, legal or financial advice for your specific situation. Laws, rates and deadlines change with each Finance Act and official notification.