Report and pay Capital Gains Tax on UK property with THP’s 48-hour Fast Track CGT Service!
If you sell a property – and it’s not your main home – you normally have to pay Capital Gains Tax on any gain you make.
These days the taxman only gives you 60 days from the sale date to calculate, report and pay CGT to the taxman. If you don’t hit the deadline, you can get slapped with both penalties and interest!
Because HMRC wants you to pay quickly, it gives you precious little time to deal with the complex paperwork, let alone explore legitimate ways of reducing your tax bill.
But don’t worry – THP can help. We’ve created a new, Fast Track service that can help you report and pay Capital Gains Tax on UK property within 48 hours*.
If you’re less pushed for time or you haven’t completed the property sale, we can not only help you avoid penalties, but advise you on ways of cutting your tax bill.
Read on to find out how our Fast Track CGT service works, request a quote or ask us for a call-back to learn more.
* We will calculate and submit your CGT return within 48 hours of receiving the information we need.
Avoiding Capital Gains Tax penalties after the clock starts ticking
From the moment you sell your property, the countdown begins. You have only 60 days to make a series of complex calculations and work out how much CGT you owe – and whether you qualify for any exemptions or reliefs. Before you even start, you have to unravel a whole jumble of essential details, including:
- Whether the property was a gift or inherited.
- Who valued it when you bought it.
- Whether the home is jointly owned, or ever was.
- Your tax position.
- The periods when you and / or tenants lived in the property.
- Any improvements you have made, plus their cost.
- Any tax-deductible expenses you have paid out.
If you are not a CGT on property expert, it’s all too easy to get your calculations wrong. If you do, you could end up paying too much tax or too little. Pay too little and HMRC will claw it back – potentially with interest and penalties.
Why risk getting it wrong? Ask our CGT experts to do the hard work for you. We’ll turn your CGT return round in double quick time and make sure your calculation is accurate. You can also ask us for tax planning advice that may bring your bill down further.
Benefits of THP's Fast Track CGT Service
|THP FAST TRACK
|We supply checklists to help you gather required information|
|We calculate the tax liability and the amounts due|
|We complete the CGT returns on your behalf|
|Identify future tax saving opportunities|
|Advice in relation to your CGT planning|
Get started today – get in touch with our expert CGT team
Our CGT on Residential Property Service Team is led by THP Director Kirsty Demeza, supported by a team of tax managers who all have experience in property taxation. If you need to report and pay Capital Gains Tax on UK property, you couldn’t be in better hands.
Kirsty and her team are very happy to answer any questions you might have. Simply click the button below to get in touch now, or take a look at the FAQs on this page.