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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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09 Jun 2025
HMRC has launched a new online interactive tool to help guide both businesses and individuals through tax compliance checks.
Almost 300,000 people filed their tax return in the first week of the new tax year, setting a new record, HMRC has revealed.