Capital Gains Tax Accountant in Birmingham: Rates & Reporting

Quick Answer

A Capital Gains Tax accountant in Birmingham calculates the tax due when you sell property, shares, or other chargeable assets, and files it correctly with HMRC – including the strict 60-day deadline for reporting and paying CGT on UK residential property. For 2026/27, the annual tax-free allowance is £3,000, and gains above that are taxed at 18% (basic rate) or 24% (higher rate), with the same rates now applying to both property and other assets such as shares.

Why Trust This Guide?

This guide is written and reviewed by a CIMA-qualified accountant with 15+ years of UK practice experience, using HMRC’s published Capital Gains Tax rates and allowances for the 2026/27 tax year.

Key Takeaways

• The CGT annual exempt amount is £3,000 per person for 2026/27 – £6,000 combined for jointly-owned assets
• Gains are taxed at 18% within your basic-rate band and 24% above it, for both property and other chargeable assets
• UK residential property sales (other than your main home) must be reported and paid within 60 days of completion
• Your main home is usually covered by Private Residence Relief, but second homes, buy-to-lets, and most shares are not
• Missing the 60-day property deadline triggers automatic penalties and interest, even if you file your Self Assessment return on time

Key Terms Explained

• Annual Exempt Amount: The tax-free allowance on capital gains – £3,000 per person for 2026/27.
• Private Residence Relief: The relief that usually exempts your main home from Capital Gains Tax.
• 60-Day Return: The separate online report and payment required within 60 days of completion for most UK residential property disposals.
• Business Asset Disposal Relief: A relief that can reduce the CGT rate on qualifying business asset disposals, up to a lifetime limit.

Who Needs to Pay Capital Gains Tax?

You may owe CGT when you sell or otherwise dispose of an asset that has increased in value – most commonly a second property, buy-to-let, shares outside an ISA or pension, or a business asset. The tax is charged on the gain (sale price minus purchase price and eligible costs), not the total sale proceeds, which is a common source of confusion for people expecting to be taxed on the full amount received.

Accountant Insight: We regularly see people budget for tax on the full sale price rather than the gain, which leads to either unnecessary panic or, just as often, under-budgeting because they’ve forgotten to add back allowable costs like Stamp Duty and legal fees on the original purchase.

Property & Asset Sales in Birmingham: What We See

Birmingham’s landlord base spans everything from single-property investors to portfolio landlords across the wider West Midlands, and property disposals make up the large majority of the Capital Gains Tax work we see locally, with share disposals a smaller share.

Capital Gains Tax Rates & Allowance for 2026/27

Item	2026/27 Figure
Annual exempt amount (per person)	£3,000
Basic rate CGT (within your basic-rate band)	18%
Higher rate CGT (above your basic-rate band)	24%
Jointly-owned asset, combined allowance	£6,000

Your capital gain is stacked on top of your taxable income for the year to work out which rate applies. The portion of the gain that falls within your remaining basic-rate band (up to £50,270 of total income and gains) is taxed at 18%, and anything above that threshold is taxed at 24%. These rates now apply equally to residential property and other chargeable assets such as shares, following recent rate alignment.

The 60-Day Property Reporting Deadline

If you sell a UK residential property that isn’t fully covered by Private Residence Relief (for example, a second home or buy-to-let), you must report the gain and pay any CGT due within 60 days of completion, using HMRC’s dedicated online CGT property service – separately from your annual Self Assessment return. This deadline catches out a lot of sellers, particularly first-time landlords, because it runs on completion date, not tax year end, and applies even if you’d normally report everything through Self Assessment anyway.

Accountant Insight: Because the 60-day clock starts on completion, it’s worth involving an accountant before you exchange, not after completion. That gives enough time to calculate the gain accurately and gather the figures needed, rather than scrambling in the final week.

What a Capital Gains Tax Accountant Actually Does

A CGT accountant calculates your gain correctly (including allowable costs like purchase price, Stamp Duty, legal fees, and qualifying improvement costs), applies any reliefs you’re entitled to such as Private Residence Relief or Business Asset Disposal Relief, files the 60-day property return where relevant, and reports the disposal on your Self Assessment return so the two align correctly.

A Worked Example

Say a landlord in Birmingham sells a buy-to-let property for £280,000, having bought it for £190,000 and spent £6,000 on Stamp Duty and legal fees at purchase, plus £4,000 on a qualifying extension. The gain is £280,000 – (£190,000 + £6,000 + £4,000) = £80,000. After the £3,000 annual allowance, £77,000 is taxable. If the landlord is a higher-rate taxpayer, the full £77,000 is taxed at 24%, giving a CGT bill of £18,480, due within 60 days of completion.

Private Residence Relief: Your Main Home

Selling your only or main home is usually exempt from CGT under Private Residence Relief, provided you’ve lived in it as your main residence throughout your ownership (with some allowance for a final period and certain periods of absence). Relief can be restricted if you’ve let out part of the property, used part of it exclusively for business, or have a large garden or grounds beyond what’s considered reasonable for the size of the house – so it’s worth checking your specific situation rather than assuming full relief automatically applies.

Areas We Serve Across Birmingham

We work with clients across all Birmingham postcode districts (B1–B99) and the wider region, entirely online. In practice, that includes professional services clients around the Colmore Business District, manufacturing and trade businesses in the Jewellery Quarter, a growing tech and creative scene around Digbeth, and construction subcontractors and landlords across the wider West Midlands. Everything is handled digitally, so there’s no need to visit an office to get started.

Should You Get Professional Advice? (Decision Framework)

For a straightforward sale of a single buy-to-let with clear records, some sellers manage the 60-day return themselves using HMRC’s online service. Where there are multiple owners, a mix of improvement and repair costs to untangle, a period of the property being your main home at some point, or share disposals involving multiple purchases at different prices, professional help materially reduces the risk of over- or under-paying – and of missing the 60-day deadline altogether.

How Much Does It Cost?

CGT calculation and 60-day property return preparation in Birmingham typically costs from around £200–£450 for a single, reasonably straightforward property disposal, with fees rising for more complex situations involving multiple assets, part business use, or several owners. Always confirm whether the fee covers just the 60-day return or also the related Self Assessment reporting.

Get a fixed-fee quote: Tell us a bit about your situation and we’ll confirm the exact cost for capital gains tax advice in Birmingham before any work starts – get in touch here.

Illustrative Examples

These figures assume the whole gain falls within a single rate band. In practice, a gain that straddles both bands is split, with the lower portion at 18% and the remainder at 24%.

DIY vs Professional Accountant

	DIY 60-Day Return	CGT Accountant
Cost	Free (HMRC online service)	£200–£450 typically per disposal
Allowable cost identification	Easy to miss deductible costs	Reviewed against purchase and improvement records
Relief eligibility (PRR, BADR)	Easy to over- or under-claim	Checked against your specific circumstances
Deadline risk	Higher if unfamiliar with the 60-day rule	Managed proactively from exchange onward

What the Annual Exemption Is Actually Worth – and Timing Disposals Around It

The £3,000 annual exempt amount is easy to treat as a footnote, but it has a real cash value, and if you have more than one asset to sell, timing matters:

Scenario	Tax Saved by the £3,000 Allowance
Single owner, basic-rate taxpayer (18%)	£540
Single owner, higher-rate taxpayer (24%)	£720
Jointly-owned asset, both basic-rate (£6,000 combined)	£1,080
Jointly-owned asset, both higher-rate (£6,000 combined)	£1,440

If you’re disposing of more than one asset and can control the timing – two buy-to-let sales that don’t both need to complete immediately, for example – splitting them either side of 6 April uses two separate annual exemptions instead of one.

• Single owner: shelters up to £6,000 more from tax
• Joint owners: shelters up to £12,000 more from tax

This only works where completion dates are genuinely flexible. The 60-day reporting clock still applies separately to whichever tax year each disposal falls into.

Common Mistakes People Make

• Missing the 60-day reporting and payment deadline, which runs from completion date rather than the end of the tax year
• Forgetting to include allowable costs such as Stamp Duty, legal fees, and qualifying improvements when calculating the gain
• Assuming a former main home is fully covered by Private Residence Relief for the whole ownership period
• Not using both spouses’ or partners’ annual exempt amounts on a jointly-owned asset
• Double-reporting or forgetting to reconcile the 60-day property return with the annual Self Assessment return

Frequently Asked Questions

What is the Capital Gains Tax allowance for 2026/27?

The annual exempt amount is £3,000 per person for 2026/27, or £6,000 combined for a jointly-owned asset.

What are the Capital Gains Tax rates for property?

Residential property gains are taxed at 18% within your basic-rate band and 24% above it – the same rates that now apply to most other chargeable assets.

How long do I have to report a property sale to HMRC?

UK residential property disposals not fully covered by Private Residence Relief must be reported and paid within 60 days of completion.

Do I pay Capital Gains Tax when I sell my main home?

Usually not, thanks to Private Residence Relief, provided it’s been your only or main home throughout ownership. Relief can be restricted for business use, letting, or unusually large grounds.

Can I use my spouse’s Capital Gains Tax allowance?

Assets transferred between spouses or civil partners are generally exempt from CGT at the point of transfer, which can allow both allowances to be used against a joint or subsequently-transferred asset.

What happens if I miss the 60-day deadline?

You’ll face an automatic late filing penalty plus interest on any unpaid tax, even if the amount due is later found to be correct.

Can a Capital Gains Tax accountant in Birmingham help if I’ve already sold the property?

Yes, though it’s best to get in touch as soon as possible after completion given the 60-day deadline runs from that date.

Do I pay Capital Gains Tax on shares?

Yes, gains on shares held outside an ISA or pension are subject to CGT at the same 18%/24% rates, after your annual exempt amount.

What costs can I deduct from my Capital Gains Tax bill?

Purchase price, Stamp Duty, legal and estate agent fees, and the cost of qualifying capital improvements (not routine repairs or maintenance) can typically be deducted.

Is Capital Gains Tax different for business assets?

Business Asset Disposal Relief can reduce the rate on qualifying business disposals up to a lifetime limit, so it’s worth checking eligibility separately if the asset relates to a trading business.

Sources

• GOV.UK — Capital Gains Tax
• GOV.UK — Capital Gains Tax rates
• GOV.UK — Tax when you sell property
• GOV.UK — Tax when you sell your home

Final Thoughts

This guide is part of our full accountant in Birmingham overview, covering all the services Birmingham businesses and individuals typically need.

Capital Gains Tax rewards preparation – particularly the 60-day property deadline, which leaves little room for delay once a sale completes. Getting the calculation and reliefs right the first time avoids both overpaying and the penalties that come with a late or incorrect return.

Want it handled properly? Get in touch for a fixed-fee quote, or see our full pricing guide.

About the Author

Written and reviewed by Shamayun Chowdhury
Senior Accountant at Major Accountancy and Lecturer in Accounting at Nottingham Trent University. CIMA qualified. Based in Leicester, England.

• CIMA qualified accountant with 15+ years of UK practice experience
• Lecturer in Accounting, Nottingham Trent University
• Senior Accountant at Major Accountancy, Leicester
• 500+ UK businesses supported across Self Assessment, Corporation Tax, VAT, and MTD compliance

Last reviewed: August 2026