Capital Gains Tax

New legislation came into effect on 6th April 2020 regarding the reporting of Capital Gains arising from the sale of a second property.

People used to report, and pay any Capital Gains Tax (CGT), in their end of year self-assessments.

This changed in April 2020 - now a report, and any payment, MUST be made within 60 days of completion of the sale of the asset, if there is a taxable profit.

Cab Books and Accounts can help you by preparing and submitting this report within the 60 day time frame - we will help you generate a Capital Gains Tax number and get authorization through this new system.

If there isn't a taxable profit then there is no legal requirement to complete and submit a CGT report - you just report it in your end of year self-assessment like previously done.

We can help work out whether there is a taxable profit and whether a CGT report is necessary.

Please contact us for information and pricing using 'Capital Gains'