You can go online at https://www.gov.uk/report-and-pay-your-capital-gains-tax/if-you-sold-a-property-in-the-uk-on-or-after-6-april-2020 Alternatively we can assist you as agents and submit the forms on your behalf, please complete this form

Where sales proceeds are reinvested in further business assets, it may be possible to postpone some or all of the tax payable.

If you have more than one property which you occupy, it may be worth submitting on election to nominate which property qualifies for private resident relief.

Capital gains are charged at 18% and/or 28% (unless eligible to business asset disposal relief) dependent upon your taxable income for the year.

Inter spouse transfers are capital gains tax free and a useful planning tool.

If the annual exemption isn’t used then unfortunately it can’t be carried forward.

There may be financial products available but you may also need to take advice from a financial adviser.

You may be able to claim private residence relief if the contract is structured correctly.

Certain gifts are eligible for holdover relief which will reduce any capital gains tax payable.

Providing the detailed criteria are met, a claim for business asset disposal relief for business assets will reduce the tax payable to 10%.