04/09/2026
Are you unsure about how Capital Gains Tax applies when you sell an asset?
Capital Gains Tax is levied on the profit you make when disposing of an asset that has increased in value. It’s important to note that it's the gain, not the total amount received, that’s taxable. For instance, if you sold an artwork for £25,000 that you purchased for £5,000, you'd pay tax only on the £20,000 gain.
Ignoring this can lead to unexpected tax liabilities or penalties if you fail to report your gains correctly.
At Fairhurst, we provide support by:
- Helping you determine which assets are subject to Capital Gains Tax
- Assisting with reporting requirements and deadlines
- Providing guidance on available allowances and reliefs
- Ensuring you maintain accurate records for your transactions
Don’t let Capital Gains Tax catch you off guard. Reach out to us for clarity and assistance.
👉🏻 Explore our full range of services at https://www.fairhurstaccountants.com/