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Capital gains tax is the amount tax individuals or companies pay when they sell, exchange, gift or transfer an asset they own.
Capital gains tax may also be due when you receive compensation for an asset that has been destroyed such insurance payments. Assets include shares or properties however, some assets are not liable to CGT.
Assets such as property rented out, a second home, business premises or land are liable to CGT when you dispose of them. There is an annual tax free allowance known as annual exemption.
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06 Jul 2026
More than 110,000 unrepresented taxpayers who must register for Making Tax Digital (MTD) from April 2026 have still not done so, according to the Low Incomes Tax Reform Group (LITRG).
Government plans to extend the rules requiring some taxpayers to declare 'uncertain' tax positions risk creating more uncertainty, compliance burdens and tax disputes according to the CIOT.