Capital Gains Tax UK | Made Simple in 5 mins - FREE DOWNLOAD

[@MaryPatricia-wr3wj]

Great video. We all strive for financial independence and better life. It’s not difficult in achieving this through the right investment, living frugally, and budgeting. I’m glad I learned early in life to work hard for financial freedom

[@RichardWilliam-i4z]

In my opinion, venturing into a good investment is not just a strategy for generating passive income but a profitable saving method for future expenses. Those who fail to make the right decisions early in life end up regretting it. Nevertheless, investing can be difficult and risky doing it solely, For this reason, I advise seeking help from professionals(financial advisors). It’s not just watching videos and reading investment books the challenge is using them well.

[@MaryPatricia-wr3wj]

@@RichardWilliam-i4z sincerely, I’m truly inspired by your words. I’m very interested in investing and I have got a good sum of money which I’m ready to put in with the right information. My biggest fear is losing my money on the wrong investment. For this reason, I’m willing to listen to your suggestions and ideas on how to invest wisely.

[@RichardWilliam-i4z]

@@MaryPatricia-wr3wj As an OAP with a lot of experience, I firmly believe that the success of any investment depends on having the right information, regardless of what others say, do whatever you set your mind to. Warren Buffer always says "be greedy when others are fearful and be fearful when others are greedy". This is certainly the trick to succeeding even when others fail. I made $100,000 working with KRISTIN GAIL CUNNINGHAM a licensed financial adviser . It’s been a promising experience so far with her.

[@MaryPatricia-wr3wj]

@@RichardWilliam-i4z Please, how do I connect with your financial planner?

[@RichardWilliam-i4z]

@@MaryPatricia-wr3wj quickly do a web check where you can connect with her, and do your research with her full name mentioned

[@ashleyspencer3664]

Great video and really well edited. Look forward to the business asset disposal relief video - be good to understand it in the context of a property trading company that flips properties.

[@tonydCFO]

Thank you Ashley. We have the BADR relief video on our roadmap. We are launching our membership platform soon where you will get access to exclusive content that will really help you grow your business, save tax and maximise your wealth. It's free to join. aidhanfinancial.com/accounting-tax-academy-membership/

[@23andrelopes]

Thanks

[@tonydCFO]

You're welcome A L 😊

[@nax1807]

are there any tips to reduce the amount of CGT payable?

[@SuperZwezda]

Great video! Thank you took of a stone of my shoulders :)

[@tonydCFO]

You're welcome I SEE U and we're glad we could help you.

[@green2107green2107]

@@tonydCFO can you help please. I sold some shares 5 days ago for a PROFIT. But have realised I made a mistake selling. The price has gone up so I'll have less shares but I'd like to buy back in. Can I buy in and sell this tax year without having any 30 day issues. I understood, the 30 day rule only applies to stocks sold at a loss and bought right back and the losses won't be offset from gains. Can you confirm or must I have to wait 30 days . Would appreciate your help. Very confusing

[@gutsygoddess7]

That's one massive mic

[@DeckTested]

So I can work full time, and profit up to 12.3K on investments in addition to my full time income and not have to declare anything?

[@unitedworld6429]

Following. I need to know this and if this is same for crypto currency

[@naheems786]

@@unitedworld6429 same man

[@CODE14464]

@@unitedworld6429 any new info?

[@unitedworld6429]

@@CODE14464 No not yet. Its wise to make your money and dont transfer it to your account at the moment. Make as much as possible then when its time to cash out then get a accountant to sort it out. Will be ok then as u will have made tonnes of money. Il get Alfred to sort it hes good at these things

[@EmmaPottsx]

I need to know this too

[@blueleaves3652]

Hi, I work for a company ( I pay taxes as PAYE), my question is: Can I still register for Self Assessment, to report my capital gains that I made in my Invest acccount, to HMRC ? Please Help !

[@plamenfilipov4697]

Question, what is yhe period each year where i need to declare the CGT? Or is it whenever i have FIRST bought the shares?

[@Billy01101]

Hi, to clarify are we able to trade daily and we don't have to notify HMRC as long as total gain is less that £12,300? Also is capital gains tax only applicable when anything beyond £12,300 has been cashed out from the platform?

[@Fazros]

Your videos are really well made and very informative, I don't get why you don't get many views but I'm a struggling accounting student and am beginning my studies with it but am having a hard time due to two reasons 1. A bad teacher 2. Not being able to physically be there in school due to the virus. And your videos have helped me quite a bit

[@tonydCFO]

Hi Fazros, you're welcome and thank you for your comment. We're delighted our videos are helping you with your studies.

[@chrysanthosrialas5383]

They are reducing the exemption to £3000

[@seyyume]

"You don't have to formally declare to hmrc when your capital gain is less than 12300" but I've read that either way you have to report it, what should we do then? cause we don't want to be fined up

[@tonydCFO]

Hi Sey - declaring to HMRC and reporting it is one of the same thing - if your aggregate gains are less than £12,300 per individual for the tax year, then there is no need to do either, unless your Gross Proceeds of any capital asset sales exceed £49,200 for the same tax year - I hope this helps

[@denniscotterell1444]

Excellent video but I haven't seen any mention of the calculation of purchase prices when having bought shares through a DRIP scheme. This is important when trying to establish any CGT.

[@SuperNeil1]

Love this, just subscribed. Had a chat with the tax people and it wasn’t too clear about once I sell shares over the £12300 allowance. Say I get 20k profit, I have to pay tax only on £7.7k. Could i not reinvest the entire £20k if I see some decent shares that have dipped. A video on that would be great to watch detailing when you sell a share and have to pay the tax on it. 🙏🏻🤓

[@tonydCFO]

Hi Neil, thank you very much for you comment and appreciation. We will roadmap a future video to include your scenario.

[@CODE14464]

Neil imo, the best thing would be to set a side the amount you pay would pay tax on, and reinvest the rest incase the new shares you buy dont perform well etc, as even if you did sell at a loss and declare its not really doing much for you if you have to sell at a loss in the first place?

[@martinhaad5702]

I purchased a house for £61k to live in 2020. Sold in 2022 for £120k. It required alot of work hence why it took long to do up. Spent around £20k doing it up. Made around £40k profit. I changed my mind and did not live in the property I ended up selling it as I didn’t like the area. I did not live in the property for long (maybe 1 week max, none of my documents were transferred over to this house) I don’t own any other properties and live in my mother in laws house. Am I liable to CGT ?

[@j0hnny.j0hn]

Bro you are the man!

[@tonydCFO]

A big thank you feciorash 😊

[@j0hnny.j0hn]

@@tonydCFO sorry to bother you again,wold you be so kind answering me:all my gains in a year are under the tax-free allowance 12 300£;I m not registered for self assestement so didn't fill up an tax return form, I didn't take the profit out of my trading acount;Am I liable to be fined? Thank you in advance!

[@tonydCFO]

@@j0hnny.j0hn if your aggregate gains in a tax year is less than £12,300 and your gross proceeds is less than £49,200, then you don't need to declare in a self-assessment return, regardless of whether you extracted your profits out into your fiat bank account or not - I hope this clarifies

[@rock_0075]

Thanks for the video, Is the annual exemption includes the employment/salary, as if the person salary is already more than 12000 pounds , will he not allowed to claim this relief?

[@ramamoorthysarangapani7258]

Can we get exemption for having two flats out of capital gain? Section 54 and 54 F differs.kindly clarify Thanks

[@tarakkhandakar]

My dad bought a property in 1996 for 160k and now passed away. its worth 800k now. If my mum sells the home now and gifts money to children as cash is there anything to pay as far as tax?

[@54Clarendon]

ive made £5000.00 on my captial gains allowance but i have put that back into other stocks. does that my capital gains for april 2021 onwards? thank you

[@asadhussain7368]

Great video, but what happens if I am a basic tax payer but made 100k in capital net gain last year? will I only pay 10k in CGT Tax? Or do I get upgraded on the my income bracket?

[@shitmagnet5136]

Very helpful and efficient. No BS, many thanks.

[@tonydCFO]

Hi S Magnet, thank you for gratitude, it's warmly appreciated.

[@jc-id6vb]

When Declaring your capital losses in the uk is there a cap of how much u can claim back (each tax year)

[@AJosh-xg9wv]

Do you have to hold the shares over a year to qualify for capital gains tax? Is anything less than that Income taxed ?

[@jcs3330]

Hi, my main and only residence home is in Spain (I hold a residencia for 2.5 years), which I am selling to finance a new main residence in the UK. Will I have to pay Spanish CGT, has I will be paying uk 'Stamp Duty' for my new UK residence?

[@tonydCFO]

Hi JC S thank you for your question. You can go along to our Q&A section where you can post your question and get a response from a qualified accountant or chartered tax advisor >>> accountingtaxacademy.com/qa-section/

[@jonathancurley6835]

Do you taxs for Crypto.

[@tonydCFO]

Hi Jonathan thank you for your comment and support 😊. As a first stop you can go watch a course we have done on this subject >>> accountingtaxacademy.com/courses/

[@ibby138]

Hi, what if don’t cash out my profits or exchange with other currency? Will they tax money on a platform?

[@tonydCFO]

Hi Ibby, thank you for your question. You can go along to our Q&A section where you can post your question and get a response from a qualified accountant or chartered tax advisor >>> accountingtaxacademy.com/qa-section/

[@creatingbalancefinance]

Super helpful! Thank you. So essentially everyone has an allowance up to £12,300 a year.

[@tonydCFO]

Hi creating balance, we're glad it was helpful!

[@mitusarq]

Hi. I hope you can see this message. I´m an employee for a company and i earn more than 12.300 a year. I bought some cryptoassets, but i only have losses. Should i report this gains to the hmrc? In the same way, i have some gains for next year 2020--2021, but just a few gains, aprox 400 pounds. Same question. Should i report it? Thank you very much. Sorry, I´m a noob in this kind of things.

[@tonydCFO]

Hi Miguel, we've actually just put together a video on Cryptoassets this week, have a look and I hope this can clear up some of your questions - kzbin.info/www/bejne/nGKrlqZjeJKijK8

[@krimou32]

Finally someone who makes sense

[@tonydCFO]

Much appreciated Karim. Thank you for the support.

[@ehsanjalil9758]

Great video, simple and easy explanation. One question on CG from the sale of a property - what sort of costs you can set off against the capital gains? Thank you.

[@sheriffcheungful]

Thanks so much

[@tonydCFO]

You're welcome sheriff cheung 😊

[@gordont9042]

Great video thanks. Have you released a template worksheet showing how to calculate a S104 holding based on multiple acquisitions and disposals of the same equity, please? Judging by comments on other channels this is something more and more subscribers are wrestling with...

[@tonydCFO]

Hi GordonT, thank you for comment and suggestion. This is something we'll endeavor to do and put it on our roadmap.

[@amittalwar136]

Can you please make a video of CGT incurred when a residential property is first occupied by resident and then subsequently let & sold.

[@tonydCFO]

Hi AT thank you for your comment and support 😊. In the first instance there is a course we have done that goes into more depth >>> accountingtaxacademy.com/courses/

[@kimberleyamber4918]

Thank you so much!

[@tonydCFO]

You're welcome Kimberley. Thank you for your support.

[@gaynorheggie5101]

Video v helpful. Am considering renting my house out unsure whether for short or long period of time. Might even move back in at later date. Will I have to pay cgt if I sell after renting?

[@tonydCFO]

Hi Gaynor, thank you for your question. We can certainly advise you on this with a formal written answer through our bitesize advisory service as follows: aidhanfinancial.com/bitesize-advisory/

[@davidjames1653]

So this countries government will charge you Tax if you inherit your fathers money which they have been Taxing for many years

[@tonydCFO]

Hi David, what you describe is relevant to inheritance tax, not capital gains tax.

[@nathanstake]

Thanks for there advice. I made £9,000 from a network marketing business in 2021 but I actually do not currently live in the UK, so it is the only income I have made in the UK. Do I owe tax? I find it confusing when it is classed as a capital gains (I think) but is the only income made, so under the £12,500

[@tonydCFO]

Hi Nathan, thank you for your question, unfortunately it's difficult to provide a meaningful answer in a KZbin comment box as there are numerous factors to consider. You can book a 20min discovery call with one of our qualified accountants, who could help you >>> aidhanfinancial.com/book-a-discovery-call

[@seeraab4219]

The answer is simple, you do not pay tax on that figure, because it is under the allowance amount and if that was your only total income😅

[@nathanstake]

@@seeraab4219 Thanks man.

[@jonwood1459]

Thanks for the video. I have a question. If I placed £100 into a day trading platform and made £100,000.00 Profit from that.. at what % would I pay capital gains tax on the net amount of £87,700.00? Thanks

[@tonydCFO]

Hi Jon, thank you for your question, unfortunately it's difficult to provide a response with absolute clarity in a KZbin comment box as there are numerous aspects to consider. Generally, CGT is chargeable at 10% if you are basic rate tax payer or 20% as a higher rate payer, after the CGT allowance. In your situation it will straddle both rates. I hope this helps.

[@jonwood1459]

@@tonydCFO Thanks for getting back to me. That's what I thought would happen. Does yhe 10/20% change at around £37,000 (profit) area?

[@okocimskie_piwerko]

I ve made 3000£ on Stock, Allowance is 12 300£. So i didnt over limit. Do I have to report my 3000£ to HMRC EVEN i didnt over allowance ? Or just do nothing ????

[@benjaminbako2915]

You don't have to report since you haven't exceeded your tax allowance. He said it in the video, pay attention to what he said at 4:15--4:34

[@EmmaPottsx]

@@TomInTheSky2001 what happens if you have a full time income along side your investments?

[@leylaa8374]

Thank you for your help!

[@rsb8653]

Does CGT apply to crypto asset gains. Does it only apply when you convert the crypto asset to fiat?

[@tonydCFO]

Hi Ri, Have a look at our latest video on cryptoassets in which we answer this kzbin.info/www/bejne/nGKrlqZjeJKijK8 If you make a gain then yes, you will be subject to CGT. There's a full calculation on this video which shows exactly how this works in regards to crypto.

[@KingDovis]

thank you

[@cosminciobanu3632]

Finally, a clear explanation on this. Thank you so much sir!

[@tonydCFO]

Hi Cosmin, thank you for your positive sentiment and support 👍

[@IntruderWithin]

Great information well done. If I invested in shares during 20/21 and made profits but I still have not sold them do I have to declare this tax period? Also, if I sold the shares and keep the profits in the account to use for new shares, do I declare profits ? Trying to understand at what point I declare , while in account or moved out ?

[@tonydCFO]

Hi Daren. We'd be happy to assist you with your question. You can book a no charge 15 min call with a qualified accountant who will help you. calendly.com/aidhan/i-have-a-query-and-need-to-talk-with-an-accountant

[@kierhudson1328]

I would believe that you have to keep records of any buying of assets, when you sell an asset it's a realised gain therefore I would assume it is counted as a taxable event even if you keep the gains on a platform and reinvest it.

[@tobymacdonald5893]

once its moved out. until you sell those shares you havent technically made any profit. its just a number on a screen. once you sell them off and receive actual funds, thats when you would declare the capital gain or loss

[@rhood101]

very informative and easy to understand

[@tonydCFO]

Thank you Rodrigo, we're glad we can help you.

[@shahhussain4402]

You are a great teacher most of my learning from your channel 😊

[@tonydCFO]

Hi Shah Hussain, thank you very much for you comment, and we are delighted our channel is benefiting you.

[@shahhussain4402]

@@tonydCFO exactly you are doing great work By helping students and professionals

[@L_Only_Cans]

great video thanks

[@tonydCFO]

You're welcome Duchess 47 and thank you for your encouraging comment.

[@silentwhispersjv]

Great video

[@tonydCFO]

You're welcome jay rv

[@heenathanki1922]

How can I contact u

[@tonydCFO]

If you're interested in professional accounting services, why not check out our website at www.aidhanfinancial.com

[@heenathanki1922]

@@tonydCFO thank you

[@harishr4377]

Hi, great video and super helpful. Are there further videos coming on CGT please, especially around loss harvesting?

[@tonydCFO]

Hi Harish, there will be more videos in the future on difference aspects of capital gains tax, including losses.