Chalmers and Partners

Tax

Capital Gains Tax advice and returns in London

Capital Gains Tax calculated, reported and planned for property, shares and business assets.

ALEX SAMPLE

Capital gain on sale of a UK residential property (not a main home)

£
Sale proceeds (completion 12/02/2026)420,000
Less costs of sale (agent and legal fees)(6,000)
Less purchase price(300,000)
Less improvement costs (extension)(14,000)
Gain100,000
Less annual exempt amount(3,000)
Taxable gain97,000
Tax at 24% (higher rate taxpayer)23,280
CGT computationExample only – fictional details. Not for filing.
HM Revenue
& Customs
Report and pay Capital Gains Tax on UK propertyUK property disposal · summary
Property address10 SAMPLE ROAD, LONDON
Completion date12 02 2026
Gain100000.00
Tax due23280.00
Report and pay within 60 days of completion: by 13 April 2026. The gain is also shown on the Self Assessment return.

Layout simplified for illustration. This is not the official form.

UK property returnExample only – fictional details. Not for filing.

Reliefs checklist

Questions we ask before calculating the gain

ReliefWhen it may applyApplies here?
Private residence reliefThe property was your main homeNo
Final period exemptionLast 9 months of ownership of a former main homeNo
Lettings reliefYou shared occupation with a tenantNo
Capital lossesLosses in the year or brought forwardNone
Annual exempt amountAvailable to every individualYes – £3,000
ReliefsExample only – fictional details. Not for filing.
What is it

What is Capital Gains Tax?

Capital Gains Tax (CGT) is charged on the profit when you sell or give away an asset that has increased in value, such as a second property, shares or a business. Your main home is usually exempt under Private Residence Relief.

Key figures for 2026/27

  • Annual exempt amount: £3,000
  • Rates: 18% within the basic rate band and 24% above it
  • Business Asset Disposal Relief: 18% on qualifying gains, up to a lifetime limit of £1 million
  • Sales of UK residential property must be reported and the tax paid within 60 days of completion
Who we help

Who we help with CGT

For individuals, investors and business owners selling, transferring or gifting assets.

Property sellers

Landlords and second-home owners selling UK or overseas property.

Investors & shareholders

Sales of shares, funds and investment portfolios.

Business owners

Business or share sales, including relief claims.

Trusts & estates

Asset disposals by trusts and estates.

What’s included

What our CGT service includes

CGT calculation

We calculate the gain, allowable costs and tax due.

Reliefs review

We check Private Residence Relief, Business Asset Disposal Relief and others.

60-day property return

We file the UK property return and arrange payment on time.

Self Assessment reporting

We report other gains on your tax return and deal with HMRC.

Planning & advice

We provide strategic advice to minimise future CGT liabilities.

Model house and keys on a table

How it works

What happens, step by step

  1. 1

    You tell us about the sale or disposal

    What you sold, when and for how much.

  2. 2

    We calculate the gain

    Taking account of costs, reliefs and allowances.

  3. 3

    You review the calculation

    We explain how the figure was reached.

  4. 4

    We report it to HMRC

    And tell you what to pay and when.

What we need from you

  • Purchase and sale dates and prices
  • Completion statements or contract notes
  • Costs of buying, selling and improving the asset
  • How the asset was used, for example main home or let property
  • Your income for the tax year
  • Details of any losses brought forward
Services

Related services

Income tax – self assessments

Preparation and submission of personal income tax returns.

Tax consultancy

Strategic tax planning and optimisation.

Written tax advice

Formal guidance on complex tax matters.

FAQ

Capital Gains Tax: frequently asked questions

When do I pay CGT on a property sale?

If you sell UK residential property and there is tax to pay, you must report the sale and pay within 60 days of completion. Other gains are usually reported on your Self Assessment return and paid by 31 January after the tax year.

What is Business Asset Disposal Relief?

It reduces the CGT rate on qualifying business disposals to 18% from 6 April 2026, up to a lifetime limit of £1 million of gains.

Can I reduce my Capital Gains Tax?

Often, yes. Using your annual exempt amount, claiming allowable costs and reliefs, and timing a sale carefully can all reduce the tax.

Licenses & certificates

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Monday to Friday, UK time