Capital Gains Tax Advice in Fareham

If you are selling a property, shares, a business or another asset that has increased in value, you may need to consider Capital Gains Tax (CGT).

At Accounts & Returns, we provide Capital Gains Tax advice in Fareham to help individuals and business owners understand their potential tax liability, identify available reliefs and deal with the relevant reporting requirements.

Our Fareham office supports clients across Fareham and the wider Solent area, including Portsmouth, Southampton, Gosport and surrounding towns. Our team includes former HMRC professionals, giving you access to practical tax experience alongside professional accountancy advice.

How can our Capital Gains Tax advisers help?

Calculating Capital Gains Tax can be more complicated than simply working out the difference between what you paid for an asset and what you sold it for.

The calculation may involve allowable costs, improvements, previous ownership, capital losses, tax reliefs and your individual tax position.

Our Fareham tax advisers can help with:

• Calculating capital gains and potential CGT liabilities
• Identifying allowable costs and deductions
• Reviewing available Capital Gains Tax reliefs and exemptions
• Capital Gains Tax on residential and investment property
• Capital Gains Tax on shares and investments
• Capital Gains Tax when selling a business or company shares
• Business Asset Disposal Relief
• Capital Gains Tax on inherited assets
• Transfers of assets between spouses or civil partners
• Tax planning before disposing of an asset
• Preparing and submitting the relevant tax returns and reports

Where possible, it is worth getting advice before you sell or transfer an asset. Planning ahead can give you more opportunity to understand your options and make informed decisions before a transaction takes place.

Capital Gains Tax on property in Fareham and Hampshire

Property is one of the most common situations where Capital Gains Tax advice is required.

If you are selling a second home, buy-to-let property or another property that has increased in value, you may have a CGT liability. The position can become more complicated if the property has previously been your main residence, has been rented out, has been inherited or has had significant improvements made to it.

Our Fareham team can help you understand the potential tax consequences before you proceed with a sale.

We can advise on situations including:

• Selling a second home
• Selling a buy-to-let property
• Selling an investment property
• Property that has previously been your main residence
• Inherited property
• Jointly owned property
• Property transferred between family members
• Capital improvements and other allowable costs

If you’re unsure whether Capital Gains Tax will apply to a property you’re planning to sell, getting advice before agreeing the sale can help you understand your likely position.

Capital Gains Tax when selling a business

Selling a business or shares in a company can result in a significant Capital Gains Tax liability.

The tax treatment depends on the nature of the disposal and your individual circumstances. In some cases, Business Asset Disposal Relief may be available for qualifying disposals.

If you are considering selling your business, it is sensible to obtain tax advice before the transaction is agreed. The structure and timing of a disposal can have important tax consequences.

Our Fareham accountants can help you understand the potential Capital Gains Tax implications of a proposed sale and consider the reliefs and planning opportunities that may be available.

This can be particularly important for business owners in Fareham, Portsmouth, Southampton and the wider Hampshire and Solent area who are planning an exit from their business.

Capital Gains Tax on shares and investments

Capital Gains Tax can also arise when you sell shares, investment funds or other investments that have increased in value.

Our tax advisers can help you:

• Calculate gains on shares and investments
• Establish relevant acquisition and disposal costs
• Consider capital losses
• Identify applicable exemptions and reliefs
• Understand how disposals may affect your wider tax position
• Deal with the relevant reporting requirements

If you have sold several investments during the tax year, reviewing your transactions as a whole can be particularly useful when calculating your overall capital gains position.

Capital Gains Tax planning

Capital Gains Tax planning is often most useful before you dispose of an asset.

If you are considering selling an asset that has increased substantially in value, speaking to a tax adviser beforehand can help you understand the likely tax consequences and whether there are legitimate planning opportunities available.

Depending on your circumstances, this could involve considering:

• The timing of a disposal
• Available CGT reliefs and exemptions
• Capital losses
• Asset ownership
• Transfers between spouses or civil partners
• Business Asset Disposal Relief
• The interaction between Capital Gains Tax and your other income

There is no single approach that works for everyone. The most appropriate course of action will depend on your circumstances, the asset involved and your plans for the proceeds.

Do I need an accountant for Capital Gains Tax?

Not every capital gain requires professional advice, but an accountant or tax adviser can be particularly useful where the calculation is complicated or a significant amount of tax may be involved.

You may benefit from professional CGT advice if you are:

• Selling a second property
• Selling a buy-to-let property
• Selling a business or company shares
• Disposing of a large investment portfolio
• Selling an asset you have owned for many years
• Selling a property that has been both your home and a rental property
• Dealing with an inherited asset
• Unsure whether a particular tax relief applies
• Planning a significant disposal and want to understand the tax implications beforehand

Our team can explain your position clearly and help you understand what you need to do.

Capital Gains Tax advice across the Solent

Our Fareham office is based at Fareham Innovation Centre, Merlin House, 4 Meteor Way, Lee-on-the-Solent, PO13 9FU. We support clients throughout Fareham and the surrounding area, including Portsmouth, Southampton, Gosport and nearby towns.

This makes our Fareham team well placed to support individuals and businesses across the wider Solent area with Capital Gains Tax and other taxation matters.

Whether you’re selling a property in Fareham, disposing of investments in Portsmouth or planning the sale of a business in Southampton, our team can provide practical tax advice tailored to your circumstances.

Why choose Accounts & Returns for Capital Gains Tax advice?

Accounts & Returns provides accountancy and tax services through five UK offices, including our Fareham office. We combine local, personal service with specialist tax knowledge and experience.

Our Fareham team includes former HMRC professionals, giving you the benefit of practical experience of the UK tax system alongside our accountancy expertise.

Local support
Our Fareham office provides a convenient local point of contact for clients across Fareham and the wider Solent area.

Experienced tax advisers
Our team has experience dealing with a wide range of personal and business tax matters.

Practical advice
We explain the tax implications of your circumstances clearly, helping you understand your options before making important decisions.

Fixed-fee services
Our Fareham office offers fixed-fee accountancy packages, providing transparency around the cost of your wider accountancy and tax support.