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Capital Gains Tax can be complicated and mistakes can cost thousands.

If you have sold a property, understanding your tax obligations might seem like a challenging task. 

We offer free, no obligation advice on this complex subject as many people choose to use our service after talking to us. 

Most of the time we save our clients far more than the our (very reasonable) fees.

Let Us Simplify Your Tax Journey

Understanding and managing your tax obligations can be daunting. But we’re here to help.

Our friendly team of tax experts can guide you through the complexities of Capital Gains Tax, ensuring you’re aware of your responsibilities and helping you navigate the reporting process.

 
Celia Prause
2. April, 2024
Great experience - I knew who I was talking to and James and Jayne were at all times friendly, competent and supportive. Even the international element didn’t deter them. An excellent service.
Katia Leonova
28. March, 2024
It is worth a lot when you can get a professional advice over the phone. Tax Bees answered my question just in minutes, in a extremely friendly manner, and with no attempts to upsell. Highly recommend them as CGT professionals!
Barry Loughran
21. March, 2024
I can only endorse all the previously posted positive reviews about this business. Friendly people and yet extremely knowledgeable and professional regarding the subject matter. A pleasure to deal with and I can strongly recommend them for all your taxation matters.
Andy Bacon
5. March, 2024
Having sold a UK residential property I had owned for 18 years I was facing a potentially significant CGT liability. Although the HMRC calculator appeared pretty straightforward I decided to approach an expert and fortunately found James just in time. I found his willingness to provide no obligation up-front advice over the phone very welcome and decided to appoint Tax Bees for peace of mind with the added bonus that his very reasonable fee might be saved when he got into the detail of my case. I certainly pays to spend some time putting together all the facts; as a result it proved very fruitful to invest in James when he significantly reduced my expected liability by many thousands compared to the HMRC online calculator. Lesson learnt - its never as simple as it first appears and not all the rules are entirely transparent!
Adam Jenkins
21. February, 2024
Tax Bees were fantastic at quickly and calmly helping us with a family tax situation. James was a reassuring presence during a stressful time. I wouldn’t hesitate in recommending him.
CLIVE WALLIS
14. February, 2024
I asked Tax bees at short notice to help out with my CGT submission, i found the team to be very efficient and very approachable . The fee was fixed .. so no nasty surprises at the end, and i believe the tax saving and peace of mind knowing that a professional had been involved is very reassuring. Thanks to James and Jayne.
Sara Barron
2. February, 2024
Thanks so much for everything and for completing our return on time. You've been so easy to work with and have done an excellent job. I found Tax Bees online and was nervous about using a service without a personal recommendation. However, I would highly recommend Tax Bees to anyone looking for help with their Capital Gains Tax, particularly James Dean, who has been exceptionally helpful and efficient from the first email enquiry and has achieved a great outcome.
tracey hale
28. January, 2024
Fantastic service very efficient attention to detail Friendly and very knowledgeable
Kate Jones
24. January, 2024
I popped into Tax Bees on the off chance that I might be able to get some help with my Self Assessment Tax Return. I drive past the building everyday and often wondered whether they would be able to help advise me. James and Jayne were so friendly and welcoming and after a nice chat and a coffee they reassured me that they could help straight away - even during the month of January which is a very busy month for them. I would certainly recommend Tax Bee's if you have any Tax needs or concerns for your business or if like me you just need help and guidance on that dreaded self assessment. James also looked into my last four years of pension tax relief and managed to get me a rebate. Very happy customer. Thanks again James and Jayne!
Melanie Palmer
22. January, 2024
We recently hired Tax Bees for capital gains tax reporting and we're very happy that we did. James was very helpful, knowledgeable and efficient. Money well spent :)

How to file your Capital Gains Tax Return

If your property sale gives rise to a taxable gain after taking into account any reliefs available to you then you will need to set up and use an HMRC Online Capital Gains Tax on UK property account to report the transaction and submit a Return.

 

This will require a Government Gateway ID, usually the your same one used for Personal Tax Account.

 

If you do not have a Government Gateway ID you will need to create one as a part of the process. This can sometimes cause issues for Non-Residents.

 

It should be noted that your Capital Gains Tax Account is separate from your Personal Tax Account.

 

Once the account is set up you will be provided with an account number. This takes the format X*CGTP000******.

Hereafter you can enter the details of the transaction and file the Return.

Individuals who are ‘digitally excluded’ may contact HMRC and request a paper form. You will need to meet HMRC’s criteria for digital exclusion.

 

As HMRC Agents we can assist with the setting up of you CGT Account and submit your Return for you.

 

How to pay your CGT

Once you have submitted your Return using your HMRC Online Capital Gains Tax on UK Property Account you will be provided with a ‘Return Sent’ confirmation and a Payment reference Number.

 

Payment can then be made by the following methods:

 

Using HMRC Online Services to make payment debit or credit card quoting your Payment Reference Number

 

Or

 

By signing in to your Capital Gains Tax on UK Property Account in order to pay online, either by debit or credit card or by approving a payment through you online bank account.

 

Or

 

By bank transfer directly to HMRC Shipley quoting your Payment Reference number. 

 

In cases where no consideration has been received on transfer of a property it may be possible to make payment by ten annual instalments. Interest will accrue at HMRC’s prevailing rates.

Reporting your CGT: The 60-day Rule

For sales of UK Property where a taxable gain has been realised a Return must be submitted, and the tax paid, within 60 days from completion. The ’60 Day Rule’. 

 

Non-Residents must submit a Return even if no gain, or a loss has been realised.

 

Please note that the date of exchange of contracts represents the tax point and the end date for Private Residence Relief.

 

Failure to report the transaction and make payment of the tax may result in penalties and interest being charged.

 

If your Return deadline is pressing or overdue we can often complete submission in as little as 24 hours.

Capital Gains Tax Rates

The amount of tax you’ll pay depends on your overall taxable income. 

You benefit from an Annual Exempt Amount, which for the tax year 2023/24 is £6,000 per person. This will fall to £3,000 per person for the tax year 2024/2025.

You may make annual capital gains up to the Exempt Amount without the requirement to submit a Return.

The current Capital Gains Tax rates are 18% for that part of the gain that falls into your lower rate tax band and basic and 28% for that part of the gain that falls into higher and additional rate tax bands.

Further information is available here: https://cgt-help.co.uk/capital-gains-tax-rates/

We offer a free calculation service, please give us a call

Private Residence Relief

Private Residence Relief is one of the most significant tax reliefs offered by HMRC – it can also be complicated.

If you have occupied the property as your main residence the period of time that you have spent there will be available as a relief against any taxable gain.

In addition the final nine months of ownership will qualify for relief, rising to thirty six months if this is due to moving into a Care Home.

There are a number of other periods of absence that may also qualify for relief, in some cases even if the property has been rented to a tenant.

It can be complex and we provide further guidance here: https://cgt-help.co.uk/private-residence-relief/

It as an area of interest for HMRC and it would be wise to fully understand your position before submitting a Return.

Do please call us or email if you would like advice as errors can frequently lead to both overpayment and underpayment of tax. 

Penalties for late filing or payment of CGT

Failure to submit your Return within sixty days of completion will give rise to £100 late filing penalty.

Once your Return is six months late a further penalty of £300 or 5% of the tax outstanding, whichever is greater, will be raised. In addition an interest charge of 5% of the tax outstanding will be raised.

At twelve months the same penalty and interest will apply again. 

If the taxpayer is deliberately avoiding submitting a return further significant additional penalties will apply.

For further information click here: https://cgt-help.co.uk/taxes/consequences-late-avoided-capital-gains-tax/

If you are late submitting a Return or have failed to file for another reason please contact us for advice on your next step.

Why our customers love us

Specialists in Residential Capital Gains Tax for Residents and Non-Residents

Authorised Tax Agents who can calculate and file your returns for you

Our Insurance Policy offers you peace of mind in the event HMRC want to examine your return

We look after the whole process, so that you know your return is correct.

How To Submit A Non-Resident Capital
Gains Tax Return?

We have outlined the 12 simple steps so you can see everything that needs to be done to get your CGT sorted.

 
Call us for free advice

We are always happy to have a chat, answer your questions and to see if we can save you Tax!

Instruct us to act

We will prepare all the documentation that is needed for us the act on your behalf

Sign our Terms of Business

We use electronic signatures for speed and ease. Then send us a picture of your passsport or driving licence

Video Meeting

We will book a Video Meeting so that we can confirm your identity for Money Laundering purposes and capture the details and narrative of  your transaction

Follow up tasks

Answer follow up questions by email and provide supporting documents if requested

Set up you HMRC Capital Gains Tax on Residential Property Online Account

This isn't always easy, we will send instructions and are available on the telephone to help

Authorise us to act on your behalf

We will email you an HMRC link which allows you to authorise us as your Agents

We send you your tax calculation for approval

Check that all of the information that we are to submit is correct

We submit your return electronically

A copy of the our HMRC reciept will be emailed to you.

HMRC Confirmation

You will recieve a seperate email confirmation from HMRC

Pay your Tax

Capital Gains Tax must be paid within 60 days of completion of the the sale. We will explain how

Relax

The process is complete. Should HMRC contact you regarding the transaction we are here to help. 

Have Further Questions? We have you covered

Answer: Yes, we are aware of how difficult this can be and will walk you through the process to ensure that you get it right.

Answer:

Provided we have all the information that we need we can generally submit a return within a week or so. Please note that returns must be submitted withing sixty days of your completion date. If a deadline is urgent, we can sometimes submit a return on a next day basis.

Answer:

Absolutely, we are HMRC Authorised agents and can submit a Return on your behalf

Answer:

We offer a comprehensive advice service within our fee and will always make sure we that you maximise reliefs and allowances in order to pay the minimum amount of tax compliant with legislation.

Answer:

Contact us for a chat. There may be interest and penalties to pay but you should still submit your return.

Answer: Use our free CGT calculation service, with real human beings, and get your answer in less than sixty minutes!

Answer: Our fixed price package includes insurance against the costs of an HMRC Investigation.

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Capital Gains Help
Beehive House, 30 Boughton,
Chester CH3 5AG

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