Use our Capital Gains Tax Calculator to work out your tax bill for disposals of property or shares for any tax year - between 6th April 2008 and 5th April 2020!
Calculating Capital Gains Tax ...
Calculating Capital Gains Tax ...
Capital Gains Tax is the tax on the profit you make when you sell or dispose of an asset.
Disposal is when you cease to own something:
The profit or 'gain' you make is what is used to calculate the amount of tax you pay.
Our calculator will take care of the working out for you and it will show you the workings as it calculates the tax. You need to look seperately at each asset disposal and subtract from the disposal proceeds, the purchase price, costs and tax reliefs to give you the gain or loss. Then add together all of the gains and subtract all the losses from the gains.
If the overall gain is more than the Annual Exempt Amount (Capital Gains Tax Free Allowance), you have tax to calculate, otherwise there is no tax to pay!
Current Tax Years Supported are:
|Tax Year||Annual Exempt Amount|
You can bring forward losses from previous tax years to help reduce your taxable amount - and any losses that remain after bringing your taxable amount down to zero can be carried forward again to the following tax year.
Any remaining taxable amount is subject to the following tax rates:
|Tax Year||Capital Gains Tax Rates|
|2017/2018 on||'Residential Assets' 18%/28% depending on other gross income, 'Other Assets' 10%/20% depending on other gross income|
|2016/2017||'Residential Assets' 18%/28% depending on other gross income, 'Other Assets' 10%/20% depending on other gross income|
|2015/2016||18%/28% depending on other gross income|
|2014/2015||18%/28% depending on other gross income|
|2013/2014||18%/28% depending on other gross income|
|2012/2013||18%/28% depending on other gross income|
|2011/2012||18%/28% depending on other gross income|
|2010/2011||Before 23 June 2010 (18%), After 23 June 2010 (18%/28% depending on other gross income)|
|2009/2010||Flat rate of 18%|
|2008/2009||Flat rate of 18%|
Normally you are not liable to Capital Gains Tax, due to the most common types of asset disposal are your primary residence and private car. However, if you sell or dispose of land or property that is not your main residence you need to be aware of the capital gains tax liability.
When you sell you main residence you're entitled to full Private Residence Relief on that property. Certain restrictions do apply however, such as having a garden/grounds larger than a football pitch, using part of your home for business purposes, letting out part of your home, or if the home was purchased to 'flip' (make a profit from a quick sale).
Typically, with CGT for most people we're looking at a property that you bought as an investment, such as a buy to let investment, a second home (holiday home), business premises and land.
Once you have entered your purchase price and disposal proceeds, you can further reduce the possible gain by declaring any allowable costs associated with the property
Certain money you spent in the buying/selling process, making improvements can be deducted as 'Other Costs':
Our calculator will give you an indication to what the tax will be on your properties before taking into account any tax reliefs, we've explained the Private Residence Relief but there are also other reliefs to consider:
Investments that qualify for Capital Gains Tax are typically:
The calculation of gains or losses on shares is similar to Property, where the shareholding being sold is all purchased at the same price/time. Sale Price minus Purchase Price and Other Costs.
Where you have purchased 1000 shares in January 2005 for £500, and another 1000 shares in December 2007 for £200 and then sold 1250 shares for £3000 in May 2009 - the calculating is a little more involved. You need to follow some special rules as you have a Section 104 holding. Our calculator does not calculate the cost of the 1250 shares you are selling. This to be apportioned and you will need to calculate that manually before entering the purchase price.
Shares that become worthless during your ownership of them can have a 'negligible value claim' put against them and then you treat the 'negligible value' as the disposal proceeds as if you had sold them. The can help you reduce your tax bill as the loss can be offset against other gains.