advisoryInstitute of Financial Accountants (IFA)

Capital Gains Tax Advice & Reporting in Glasgow

Capital gains tax is charged when you sell or dispose of an asset — a second property, shares, or a business — at a profit. For 2026/27 the rates are 18% and 24%, after a £3,000 annual exemption. If you sell UK residential property with tax to pay, you must report and pay within 60 days. QA FinTax handles the calculation, the reliefs and the deadline.

CGT is the tax where getting advice before you act matters most, because almost every relief has to be in place before completion. With Glasgow's active property market and a steady stream of business sales, it catches landlords, investors and company owners alike. And the rules changed recently — a lot of published advice is simply out of date. We make sure you claim what you are entitled to and report it correctly, on a deadline that is far shorter than people expect.

Call +44 7768 911170

What Our Capital Gains Tax Service Includes

CGT calculated on property, shares and business assets
All available reliefs claimed — PPR, BADR, spousal transfers
The 60-day residential property report prepared and filed
Business Asset Disposal Relief on qualifying business sales
Planning before a disposal to reduce the bill legally
Reporting through self assessment where required

What Triggers a Capital Gains Tax Bill?

CGT applies when you dispose of a chargeable asset at a gain. Disposal does not only mean selling — giving an asset away or transferring it can also trigger it.

Selling a second home or a buy-to-let property
Selling shares or investments held outside an ISA or pension
Selling or winding up a business, or disposing of business assets
Gifting a valuable asset to someone other than your spouse or civil partner
Selling an inherited property for more than its value at the date of death

What Are the CGT Rates for 2026/27?

From 6 April 2026 the same rates apply to residential property and to other assets, including shares in your own company. This is a change from previous years, when property was taxed at higher rates than other assets.

Capital gains tax rates and allowances for individuals, 2026/27
Situation	Rate / amount
Basic rate taxpayer	18%
Higher or additional rate taxpayer	24%
Business Asset Disposal Relief (qualifying business sale)	18% — £1,000,000 lifetime limit
Annual exempt amount	£3,000 of gains tax-free

Business Asset Disposal Relief was 10% until 5 April 2025 and 14% during 2025/26, rising to 18% from 6 April 2026. The gain sits on top of your income when deciding whether the 18% or 24% rate applies.

What Is the 60-Day Property Reporting Rule?

If you sell UK residential property and have CGT to pay, you must report the disposal and pay the tax within 60 days of completion — through a separate HMRC "UK Property" account, not your annual tax return. Miss it and HMRC charges penalties and interest. This is the single most common CGT mistake we see, because most people assume it goes on their normal return in January. We prepare and file the 60-day report so the deadline is met.

How Do We Reduce Your CGT Bill?

The reliefs are generous but conditional, and most have to be arranged before you dispose of the asset — which is why the time to call us is before you agree a sale, not after.

Private Residence Relief — removes the gain on a property that was your main home
Your £3,000 annual exemption, and your spouse or civil partner's, used across two tax years where possible
Transfers between spouses and civil partners, which are tax-neutral
Business Asset Disposal Relief on qualifying business and share sales
Offsetting current or brought-forward capital losses against the gain

Capital Gains Tax in Glasgow — Frequently Asked Questions

For individuals, 18% if you are a basic-rate taxpayer and 24% if you are higher or additional rate, after a £3,000 annual exemption. From 6 April 2026 residential property and other assets are taxed at the same rates. A qualifying business sale under Business Asset Disposal Relief is taxed at 18%.

Usually not. Private Residence Relief normally removes the gain on a property that has been your only or main home throughout ownership. If you let it out or used part of it exclusively for business, part of the gain may be taxable — we work out exactly how much.

If you sell UK residential property with CGT to pay, you must report it and pay the tax within 60 days of completion, through HMRC's UK Property account. It is separate from your annual self assessment, and late reporting attracts penalties and interest. We handle it for you.

It reduces the CGT rate on a qualifying sale of a business, or shares in your personal trading company, to 18% for 2026/27, up to a £1,000,000 lifetime limit. You generally need to have met the qualifying conditions for at least two years before the sale, so it is worth planning well ahead.

Yes. Transfers between spouses and civil partners are tax-neutral, so an asset can be put into joint names before a sale to use both annual exemptions and, where helpful, both people's basic-rate bands. This has to be a genuine transfer done before completion.

You do not pay CGT on inheriting it, but you may when you sell. The gain is measured from the property's value at the date of death to the sale price, so if it has risen in value since then, CGT can apply — with the usual £3,000 exemption and 60-day reporting rule.

Official sources

Rates and thresholds are stated for the 2026/27 UK tax year and are for general guidance only. They are not a substitute for advice on your own circumstances.