Current Capital Gains Tax rates

Current Capital Gains Tax rates

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made by individuals. If taxpayers only pay basic rate tax and make a small capital gain, they may only be subject to a reduced rate of 10%. Once the...
CGT on second property sales – 30 day rule

CGT on second property sales – 30 day rule

The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell a residential property changed with effect from 6 April 2020. This change means that any CGT due on the sale of a residential property now needs to be reported and a payment on account...
Tax when you sell a business property

Tax when you sell a business property

There are various methods at your disposal to reduce or delay the amount of Capital Gains Tax (CGT) when you sell a property that has been used for business purposes. For example, Business Asset Rollover Relief allows for deferral of CGT on gains made when taxpayers...
Private residence relief

Private residence relief

There is usually no Capital Gains Tax (CGT) to be paid when you sell your main family residence (referred to by HMRC as private residence relief) that has been used as your only or main residence.  However, there are important points to consider that can affect...
Bed and breakfast – the same day rule

Bed and breakfast – the same day rule

Historically, the term bed and breakfasting (sale and repurchase) of shares referred to transactions where shares were sold and then bought back the next morning. This used to have Capital Gains Tax (CGT) benefits by crystallising a gain or a loss but is no...
Tax on sale of cryptoassets

Tax on sale of cryptoassets

Most individuals hold cryptoassets (such as Bitcoin) as a personal investment, usually for capital appreciation in its value or to make purchases.  HMRC is clear that these holdings will usually be subject to Capital Gains Tax (CGT) when:  selling tokens...