23/10/2026
Did you know you might need to pay Capital Gains Tax when selling your personal possessions? 🤔💰
If you sell items like jewellery, antiques, or art for £6,000 or more and make a profit, you could be liable for tax.
Many people overlook these obligations, leading to surprises when tax season arrives. Ignoring this can result in unexpected bills or penalties.
Here's how Swann Accounting can help you navigate this:
- Assess whether your items fall under tax liability
- Guide you on how to accurately calculate your gains
- Help you understand deductible costs that can reduce your tax bill
- Advise on exemptions, such as for gifts to a spouse, civil partner or charity, or jointly owned possessions
- Provide support in reporting any losses if applicable
Don't leave your tax situation to chance! Contact us today for tailored advice that suits your needs. 🌟
👉🏻 Find out more at: https://www.swannaccounting.co.uk/.