Property Transactions and Capital Gains Tax

Capital Gains Tax (CGT), a tax payable on property transactions, can be extremely complicated to understand and correctly account for. Well informed advice and forward planning can help you enjoy the maximum benefit from your property-related activities.

We can advise on many aspects of property-related taxes, just some of which include:

  • How rental property owners can reduce their tax liabilities,
  • Tax deductions for expenses incurred on rental properties,
  • Trading income versus Capital Gains,
  • Capital Gains rollover and holdover,
  • VAT implications for property-related transactions,
  • Principal Private Residence elections and related reliefs,
  • Second and additional homes,
  • Rent a Room scheme tax relief,
  • Tax benefits relating to furnished holiday lettings,
  • How buy-to-let properties are taxed.

We can provide you with Capital Gains Tax calculations before any transactions actually take place, so that you’re fully aware in advance of any potential tax liabilities.

We can also advise you how property disposals might be most helpfully timed in the context of your individual circumstances. As and when any transactions are completed, we can update the calculations as appropriate for inclusion in your tax return.

To discuss how Adams Accountancy can assist you with your Property Transactions and Capital Gains Tax, please contact us for a free, no obligation consultation on: 01322 250 001 or complete our Contact form and we will get back to you promptly.