Cgt
Glossary
CGT
Capital Gains Tax (CGT) is the UK tax payable when an individual sells or disposes of an asset for more than they paid for it.
CGT applies to disposals of shares, property other than your main home, business assets, and certain personal possessions worth more than £6,000. The annual exempt amount is £3,000 (from 2024/25), with anything above taxed at 10% / 20% (or 18% / 24% on residential property) depending on your overall income band. Business owners selling qualifying assets may also qualify for Business Asset Disposal Relief (BADR) — a reduced 10% rate on the first £1 million of lifetime qualifying gains. Disposals must be reported on Self Assessment, and UK residential property disposals trigger a separate 60-day reporting and payment deadline.
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