UK Property Capital Gains Tax

International Tax Advice for US & UK Expats

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UK Property Capital Gains Tax
Free CGT Calculator:
www.optimiseaccountants.co.uk...
Read the article here: www.optimiseaccountants.co.uk...
Discuss our Buy to let accountancy services: www.optimiseaccountants.co.uk
Book a Finance & Tax consultation with Simon Misiewicz. Use the coupon code “RU-vid25” to get the 25% discount optimiseaccountantsltd.as.me/...
Buy to let tax saving online community (7 day free trial) - £9.95 per month thereafter
It is important that you understand all the essential elements of tax that affects your buy to let portfolio from SDLT, income tax, CGT and IHT. There are a number of videos, documents and tax calculators to help you save even more tax. Simon Misiewicz will be also live this Wednesday at 7pm to take your buy to let tax questions Register today and save tax tomorrow: buy-to-let-property-tax.teach...
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#BuyToLet #CapitalGainsTaxExplained #CGTExplained
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In this video you will learn from Simon Misiewicz, your property tax specialist, of Optimise Accountants
▶ What is Capital Gains Tax otherwise known as CGT?
▶ We will attempt the subject of Capital Gains Tax Explained in an easy to digest format
▶ Why do you have to pay capital gains tax?
▶ Are there any assets that is not subject to capital gains tax when they are sold?
▶ Are there any CGT annual allowances to prevent the need for capital gains tax to be paid?
▶ Do you have to pay capital gains tax when you transfer assets to your spouse / civil partner?
▶ Do you have to pay capital gains tax on sold assets if you make a loss?
▶ What are the rates of CGT for basic rate taxpayers?
▶ What are the CGT rates for high rate taxpayers?
▶ Capital gains tax explained in this short video
▶ How do you avoid Capital Gains Tax, legally and ethically?
▶ We will provide clear examples of how capital gains tax is calculated. Once you have watched this video you will be able to download the capital gains tax calculator to understand how much CGT you will pay on your buy to let property.
▶ Why do basic rate taxpayer pay either 10% or 18% capital gains tax?
▶ Why do high rate taxpayer pay either 20% or 28% capital gains tax?
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Book a Finance & Tax consultation with Simon Misiewicz, the co found of Optimise Accountants the property tax specialists. Use the coupon code “RU-vid25” to get the 25% discount
Book your tax call now call: app.acuityscheduling.com/sche...
The tax support will take the form of:
1.You book the Finance & Tax Director call and upload your questions with relevant documentation
2.Simon will spend up to 60 minutes to go through your situation and identify the very best solution
3.You and Simon will then spend the 60 minutes call to discuss which solution works for you best and to work out the practical application
4.Simon will leave the call and spend up to another 60 minutes to write up the notes and to do further research
5.Simon will provide additional 15 minutes email support to deal with any clarification questions that you may have

Опубликовано:

27 июл 2024

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Комментарии : 20

@Simon-Misiewicz-US-UK-Taxes 2 года назад

Use our new free Capital Gains Tax Calculator here: www.optimiseaccountants.co.uk/uk-capital-gains-tax-calculator/

@louisfriberg5430 2 года назад

Thank you info. Do you still get CGT allowance on a BTL sale? Transfer with spouse can that be on whole gain amount ?

@Simon-Misiewicz-US-UK-Taxes 2 года назад

Each person that owns a BTL gets a £12,300 (as at 2022) allowance tax free each year

@markbellingham5019 Год назад

Hi, I brought my home in 2007 and lived there until I moved out to work abroad in 2018 (11 years). The property has been let since may 2019 (4 years). I now would like to sell the property this summer 2023. Do I have to pay CGT when I sell, and if I move back in before I sell, will that reduce the CGT bill?

@Simon-Misiewicz-US-UK-Taxes Год назад

You almost certainly will and you need to get tax advice before you sell the property. Book a 30 minute call here: optimiseaccountantsltd.as.me/?appointmentType=701926

@mhoward181 3 года назад

Hi. Cud u tell me what I need to add to my end of year salary calculation please. Let’s say I make £22,300 capital gain. Deduct my allowance £12,300 this will = a capital gain of £10,000. Do I have to add the £10,000 to my annual salary. Obviously I will reduce this £10,000 for CGT purposes by deducting purchase price. Sale price. Any improvements if I have receipts etc. Then pay 18% of what’s left. I cannot work out if il be a higher rate tax payer without knowing what number I have to add to my end of year expected total salary. Maybe you could make a video showing a calculation like this. Many thanks.

@Simon-Misiewicz-US-UK-Taxes 3 года назад

That is a great question. A little too complex for me to a see here but do book a tax consult for £375 to get the best tax strategy

@ashumyname 3 года назад

Hi if my capital gain for year 2020-2021 is £7450 however I have sold stocks and funds of total amount of £59400 which is above the threshold for total proceed of £49200 in a financial year. I have to show this in my self assessment but would I pay CGT for this? Many thanks for your advice

@Simon-Misiewicz-US-UK-Taxes 3 года назад

Yes you will and the calculations are not straight forward with stocks and shares. Get support on this one

@paper4871 3 года назад

Hello Can you please help me with this; I'm got a company salary about £1,900 a month so low paid I going to sale a paint and cost me £45,000 7 years ago, sale price now £300,000 so how much I do have to pay ?

@Simon-Misiewicz-US-UK-Taxes 3 года назад

This should be a good read for you: www.gov.uk/capital-gains-tax-personal-possessions

@martinhaad5702 Год назад

I purchased a house for £61k to live in 2020. Sold in 2022 for £120k. It required alot of work hence why it took long to do up. Spent around £20k doing it up. Made around £40k profit. I changed my mind and did not live in the property I ended up selling it as I didn’t like the area. I did not live in the property for long (maybe 1 week max, none of my documents were transferred over to this house) I don’t own any other properties and live in my mother in laws house. Am I liable to CGT ?

@Simon-Misiewicz-US-UK-Taxes Год назад

You will certainly have to pay capital gains tax within 60 days of selling the property

@martinhaad5702 Год назад

Ah ok. My accountant told me I am exempt from CGT as it’s classed as personal residence. I had no other properties

@Simon-Misiewicz-US-UK-Taxes Год назад

You mentioned that you changed your mind and did not live in the property. This means it was not your home or am I mistaken?

@martinhaad5702 Год назад

I purchased it in 2020 to live in (using cash, no mortgage). It was covid time So it took around 18 months to fix up (£20k cost) Once it was fixed I moved there for a week but the house got robbed. So I decided to sell it. I sold exactly 2 years after buying it.. Thanks

@martinhaad5702 Год назад

House was inhabitable when I purchased it (no gas / damp / no kitchen) etc hence why I didn’t move it straight away

@Simon-Misiewicz-US-UK-Taxes 3 года назад

Capital Gains Tax Calculator £9.95: bit.ly/2XkxbTF Download the buy to let tax calculator. CGT 30 days reporting: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-T4YIvGUCAdI.html