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Mitch Hahn
CEO - Nordens
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More Than Just Accountants
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Get in touch today to discover how Nordens can revolutionize your business.
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Accounting
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Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Agriculture
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Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Get In Touch
02085300720
enquiries@nordens.co.uk
The Retreat, 406 Roding Lane South, Woodford Green, IG8 8EY
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When an individual or corporate body holds an asset that is not for sale, or not part of stock-in-trade, capital gains are made from the appreciation in the value of these capital assets. Capital assets can include stocks, mutual funds, real estate holdings, precious metals, art collections – to name just a few examples. It can only be regarded as a gain if the sales price is higher than the amount invested in the original purchase. Capital gains tax is only due when you sell any of the following: an asset worth £6,000 (except a vehicle), real estate property that is not your main residence, shares not listed in an ISA or PEP or any joint-owned assets.
Capital Gains Tax rates are set at 28% on gains made from the disposal of residential property, and 20% on gains made from other taxable assets. These rates will depend on whether you are a higher or extra-rate income taxpayer. However, if all you pay is the basic rate, you are charged based on the level of your gain, taxable income and the source of your gain (residential asset or any other). Fortunately, you will not be expected to pay Capital Gains Tax on ISAs or PEPs, security and premium bonds issued by the United Kingdom government, or winnings such as bets, pools and lottery wins.
There is also a tax-free allowance. This means that you only have to pay tax when your capital gain is above the set annual amount. For citizens, this currently sits at £11,700, and £5,850 for trusts. Similarly, there are other certain circumstances which may make assets exempt – such as residency, for example. Once this has all been determined, you will need to report this information either through a real-time tax service, or in your annual self-assessment tax return. If this all sounds a bit overwhelming, you can trust Nordens to handle both the reporting and payment of capital gains tax, helping you avoid any risk of inaccuracy or accidental over/underpayment- we’re by your side from start to finish!
Nordens premium service is designed to support you, the you in your capital gains tax calculations, reporting and filing.
Our highly qualified ACCA accounting team can handle even the most complex CGT situation.
Capital Gains Tax Calculations
Real Time CGT Reporting
Capital Gains Tax Filing
Expert ACCA Accounting Advisors
Dedicated Account Manager
Here at Nordens, we know that Capital Gains Tax can feel confusing. We receive questions almost everyday from business owners nationwide feeling the very same. Here is a little more on the matter:
Capital Gains Tax is levied on capital gains. Capital gains are profits made from the sale of assets such as stocks, premium bonds, precious metals and real estate holdings. What determines whether it is a capital gain or loss is the difference between the sales price and the original price at which it was purchased. The Capital Gains Tax is calculated on the profit. Capital gains can only be calculated when the asset is sold. It is not concerned with how much is gained while it is held by the investor.
Capital Gains Tax is paid when an asset is chargeable. The chargeable assets include: personal possessions worth above the value of £6,000, any asset that is not your main apartment, shares (with the exemption of those listed as an investment, or under the tax-free scheme), and assets that are used for business (this does not include stock-in-trade). The application of these rules can be complex. Thus, it is best to seek the assistance of a tax advisor or accountant in order to have a clearer understanding of what assets can be charged for Capital Gains Tax upon disposal. You can always reach our accountancy firm for any enquiries.
Based on the provisions of TCGA 1992, certain assets are tax-free. This includes:
• Winnings from bets, lotteries and pools
• Compensation or damages received as a result of any loss suffered by an individual or corporate organisation or the asset in custody cannot be charged for gains
• When a government issues a savings certificate, securities or high premium bonds, it cannot be charged for gains when disposed of
• Interest in a settled property that is later disposed of cannot be charged for gains
• Main residences and wasting assets
• Gains made from the disposal of shares under the Business Expansion Scheme (BES)
SEIS stands for Seed Enterprise Investment Shares enjoyed by UK taxpayers. It was introduced in 2012 by HMRC to help small start-ups raise funds by providing tax reliefs to any investor who holds share interest in the company. Thus; SEIS allows you to claim relief of about 78% or more on about £100,000 investment. On Capital Gains Tax, there is an exemption on earnings from shares. Also, profits realised within a period of three business years and reinvested in SEIS enjoys capital gains exemption. Meanwhile, you should be aware that your SEIS tax-relief cannot be carried forward.
Capital gain is the profit made when an original investment is disposed of. Capital loss on the other hand is the loss incurred when an investment is sold less than the original purchase value. To determine whether it is a gain or loss, the amount that has been gained is divided by the original amount invested. If the percentage appreciates, it is classed as a gain (and vice versa). If you experience a loss in investment in a tax year, it is advisable to sell assets that have a good return on investment as soon as possible. The losses can be employed to compensate for gains in the same year.
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.
Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.
Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.
Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.
Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.
With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.
Voted as EXCELLENT - 9.9 out of 10 based on 167 reviews
Director - Metro Bank
Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.
Co-Founder - Chicmi Limited
Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.
Director - Rose Opticians
I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation
Founder & Director - Physio LDN
Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.
Principal - Pauline Quirke Academy
Great accountants, always available to offer advice. The team have transformed my business.
Founder - Dataphone
Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.
Director - Linekers
Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!
Founder - Foundation Sports Limited
A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.
Managing Director - Prime Time Boilers
I have been with Nordens for many years now and they are a great accountants.
Founder - Vivid Finishes
We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.
Managing Director - AMD Interior Architecture
Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.
Director - Forma London
Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!
We've always got our ears to the ground when it comes to interesting, useful and topical information relating to business and accountancy.
We love making videos that break down convoluted accountancy jargon into plain-talking, actionable and accessible facts.
In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Mark Norden
Founder
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!
At Nordens, we're committed to keeping our clients updated on all things business strategy and news. Each week we update our newsletter subscribers on what really matters in the big bad world of business. That way, you can stay one step ahead!
Call: 0208 530 0720
Email: enquiries@nordens.co.uk
Interested In Nordens? Give us a call on 0208 530 0720 or or request a direct call back anytime between 8:00am to 6:00pm!
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Nordens is a trading name of Nordens Limited, a limited company registered in England under company number 04709951. Our registered office is: The Retreat, 406 Roding Lane South, Woodford Green, Essex, IG8 8EY.
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