Capital Gains Tax

What Is Capital Gains Tax?

Capital Gains Tax is charged on the profit made when you sell, gift or otherwise dispose of an asset that has increased in value; it is the gain, not the sale price, that is taxed. For 2026/27, individuals have an annual exempt amount of £3,000, with gains above that generally taxed at 18% or 24% depending on your income, though these figures should always be checked against the latest HMRC guidance given how often CGT rules change.

Capital Gains Tax Services We Provide

Our CGT advice is focused specifically on the context of estates, Trusts and asset transfers.

CGT on Estate Administration

“Do I pay CGT – when someone dies?” Not on death itself, assets are rebased to market value at the date of death, but if an asset rises in value between death and sale during administration, CGT can arise on that later gain. We help executors understand and plan around this.

CGT on Trust Assets

Creating, transferring or disposing of Trust assets can trigger CGT. Trustees have their own, lower annual exemption than individuals, and rates vary by Trust type; we advise trustees on their position and available reliefs.

Passing On Assets to Loved Ones

Gifting property or other assets can create an immediate CGT liability even though no money changes hands. We advise on the interaction between CGT and Inheritance Tax so lifetime giving is planned coherently, not in isolation.

CGT Reliefs and Exemptions

Private Residence Relief on a main home, holdover relief for certain gifts, and Business Asset Disposal Relief on qualifying business disposals can all reduce or remove a CGT bill. We identify which apply and ensure they are properly claimed.

How the Process Works

When you come to us with a Capital Gains Tax question, here is what to expect.

1. Initial consultation: We discuss your situation and identify the assets and transactions involved.
2. CGT assessment: We assess the potential liability, including any reliefs or exemptions available.
3. Exploring your options: Where planning is possible, such as timing a disposal, we set out your options clearly.
4. Reporting and compliance: We work with your accountant, or refer you to one, to ensure CGT is correctly reported to HMRC.

For general CGT advice unconnected to an estate, Trust or asset transfer, we recommend speaking with a qualified accountant.

Why Choose Nelsons for Capital Gains Tax Advice

Executors, trustees and families choose Nelsons for CGT advice for a few clear reasons.

• Several of our solicitors, including Helen Salisbury, hold full STEP membership.
• Recognised by The Legal 500 as one of the leading Wills, Trusts and Probate teams in the East Midlands.
• We advise on CGT alongside Inheritance Tax and estate planning, so you explain your situation once, not twice.
• Offices in Derby, Leicester and Nottingham, plus video and telephone consultations.

Speak to Our Capital Gains Tax Solicitors

Call 0800 024 1976 or contact us via our online enquiry form.