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Capital gains tax

Expert commentary and practical guidance from ICAEW related to capital gains tax in the UK personal tax regime.

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TAXguide 15/20: CGT UK property disposal reporting

The requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property separately from the self assessment tax return was introduced in April 2020. The deadline is 60 days for all completions on or after 27 October 2021.
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Exclusive

TAXguide 10/21: A guide to principal private residence relief

Questions around the tax treatment of someone’s principal private residence (PPR) arise with frequency and all too often the answer is not as straightforward as might first appear. This guide considers the core rules, the traps and the key items to be aware of to help clients through this area of tax law.
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Exclusive

Making the most of capital losses

The end of the tax year is approaching. A reduction to the capital gains tax annual exempt amount is imminent. This may be a good time for taxpayers to take stock of available capital losses, and ensure they have been claimed, says Mei Lim Cooper.
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Exclusive

New capital gains tax rules for separating couples

New rules will allow separating couples more time to transfer assets on a tax-neutral basis. Mei Lim Cooper explains that they’ll need to time it correctly to benefit.
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Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.

Exclusive TAXguide 06/24: Taxation of cars, vans and fuel Q&As
  • Technical release
  • 29 May 2024
Answers are provided in this TAXguide to questions asked in ICAEW's webinar on the taxation of cars and vans, including electric vehicles and fuel.
Exclusive TAXguide 01/2024: Taxation of cryptoassets for individuals
  • Technical release
  • 28 Feb 2024
TAXguide covering the UK taxation of cryptocurrency held by individuals including charges to capital gains tax and income tax.
Exclusive TAXguide 10/21: A guide to principal private residence relief
  • Helpsheets and support
  • 28 Apr 2021
Questions around the tax treatment of someone’s principal private residence (PPR) arise with frequency and all too often the answer is not as straightforward as might first appear. This guide considers the core rules, the traps and the key items to be aware of to help clients through this area of tax law.
TAXguide 15/20: CGT UK property disposal reporting
  • Technical release
  • 15 Sep 2020
The requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property separately from the self assessment tax return was introduced in April 2020. The deadline is 60 days for all completions on or after 27 October 2021.
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Features and articles

Technical round-up: October 2024
  • Article
  • 31 Oct 2024
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
Budget 2024 verdict: big and bold, but borne by business
  • Article
  • 31 Oct 2024
Chancellor Rachel Reeves focused on delivering economic stability with her wide-ranging first Budget – but short-term tax raising measures worth £40bn fall primarily on the shoulders of business.
Government publishes its plans for corporation tax
  • Article
  • 30 Oct 2024
The government has set out its intentions for corporation tax for the next five years, delivering on its commitment to publish a business tax roadmap at the Autumn Budget.
CGT and SDLT rates increased in Budget
  • Article
  • 30 Oct 2024
From 30 October 2024, the main rates of capital gains tax (CGT) will be increased to 18% and 24%. The 10% rate of CGT for disposals attracting business asset disposal relief (BADR) will increase to 14% (from April 2025) and to 18% (from April 2026).
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Markel Tax FAQs

Questions and answers on UK tax issues and trends provided by Markel Tax, for eligible member.

Exclusive Spouse transfer and private residence relief
  • Helpsheets and support
  • 02 Nov 2023
FAQ onthe new rules regarding disposals made between married or divorced couples who are no longer living together on or after 6 April 2023.
Exclusive Tax relief and gifting of commercial property
  • Helpsheets and support
  • 05 May 2023
FAQ on what tax relief might be available on business properties to be gifted to a garage owner's son. The properties have been rented out to third properties to generate an income.
Exclusive Deferring CGT payments
  • Helpsheets and support
  • 12 Apr 2023
FAQ on whether it is possible to defer payment of the Capital Gains Tax (CGT) liability arising from an asset sold, which the buyer is paying for in instalments.
Exclusive Loans to traders
  • Helpsheets and support
  • 06 Dec 2022
FAQ on whether tax relief be claimed on a loan which a client made to his company, but which cannot now be reclaimed.

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Exclusive Bloomsbury Professional Tax Guide 2024/25
  • eBook
  • 2024
  • The TACS Partnership
  • Bloomsbury Professional Tax Guide
Comprehensive practical guide on the full range of UK taxes, containing worked examples throughout.
Exclusive Trusts and estates
  • eBook chapter
  • 2024
  • The TACS Partnership
  • Bloomsbury Professional Tax Guide
Five chapters on trusts and estates, including coverage of income tax and trusts, capital gains tax and trusts, and inheritance tax and trusts.
Exclusive Business Asset Disposal Relief (previously Entrepreneurs’ Relief)
  • eBook chapter
  • 2024
  • David Whiscombe
  • Partnership Taxation
Chapter providing expert guidance on business asset disposal relief (previously called entrepreneurs’ relief) in relation to a business partnership.
Exclusive Bloomsbury's tax rates and tables 2024/25: Finance (No. 2) Act Edition
  • eBook
  • 2024
  • Lucy Webb
Tax rates and tables updated to reflect measures passed in the Finance (No 2) Act 2024.
Exclusive Shareholding and corporate structures
  • eBook chapter
  • 2024
  • Peter Rayney
  • Tax Planning for Family and Owner-managed Companies
Chapter containing advice on shareholding and corporate structures, written for anyone who advises or runs a family or owner-managed company.
Exclusive Share transfers, share buy-backs and company reorganisations/demergers
  • eBook chapter
  • 2024
  • Peter Rayney
  • Tax Planning for Family and Owner-managed Companies
Tax planning advice for company restructuring and share transfers or buy-backs, written for anyone who advises or runs a family or owner-managed company.
Exclusive Selling the owner-managed business or company
  • eBook chapter
  • 2024
  • Peter Rayney
  • Tax Planning for Family and Owner-managed Companies
Tax planning advice on selling a family or owner-managed company, written for anyone who advises or runs one.
Exclusive Capital gains tax 2023/24
  • eBook
  • 2024
  • Chris Erwood, Jacquelyn Kimber, Iris Wünschmann-Lyall
Examines the current capital gains tax legislation and HMRC guidance in a comprehensive and accessible style.
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You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

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Business asset disposal relief

CGT and SDLT rates increased in Budget
  • Article
  • 30 Oct 2024
From 30 October 2024, the main rates of capital gains tax (CGT) will be increased to 18% and 24%. The 10% rate of CGT for disposals attracting business asset disposal relief (BADR) will increase to 14% (from April 2025) and to 18% (from April 2026).
Claims for investors’ relief may not be valid
  • Article
  • 09 Aug 2024
HMRC is writing to taxpayers who claimed for investors’ relief on their 2022/23 income tax self assessment (ITSA) return and do not appear to meet the conditions for the relief.
Taxpayers may have exceeded BADR limit
  • Article
  • 23 Jul 2024
HMRC has contacted taxpayers who may have claimed more than £1m business asset disposal relief (BADR) up to and including 2022/23.
Exclusive Working out the date of disposal isn’t always child’s play
  • Article
  • 30 Apr 2024
How do you determine when an asset was sold when there is no formal documentation? Stephen Relf looks at a recent tax case where the First-tier Tribunal had to do just that.

eBooks

The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.

Exclusive Private client: wills, trusts and estate planning 2024
  • eBook
  • 2024
  • Lesley King
Provides a comprehensive introduction to the legal and taxation implications arising from estate planning work for clients within the private client department of a solicitor's practice.
Exclusive Estate planning: capital gains tax
  • eBook chapter
  • 2024
  • Lesley King
  • Private Client - Wills Trusts and Estate Planning
A detailed section examining the Capital Gains Tax issues that one ought to be aware of when advising a client on making lifetime outright gifts. Covers rates, calculation, exemptions, death, and reliefs. Points are illustrated with worked examples.
Exclusive Capital gains tax and lifetime settlements
  • eBook chapter
  • 2024
  • Lesley King
  • Private Client - Wills Trusts and Estate Planning
A short section on the Capital Gains Tax treatment of disposals to settlements. Points are illustrated with worked examples.
Exclusive Partnerships
  • eBook chapter
  • 2023
  • Malcolm James
  • Taxation of Small Businesses
A full chapter on the taxation of partnerships, including limited partnerships and LLPs. It focuses mainly on Income Tax, but includes a detailed subsection on Capital Gains Tax.
Exclusive Capital Gains Tax and chargeable gains
  • eBook chapter
  • 2023
  • Malcolm James
  • Taxation of Small Businesses
A detailed chapter on Capital Gains Tax, intended for advisors to small businesses. Includes sections on exemptions, reliefs, offsetting, allowable costs, valuation of assets, and more. Some points are illustrated with worked examples.
Exclusive Taxation of small businesses, 2023/24
  • eBook
  • 2023
  • Malcolm James
  • Taxation of Small Businesses
A one-volume guide to direct taxation of a small business.
Exclusive Individual income tax
  • eBook chapter
  • 2023
  • IBFD
  • Global Individual Tax Handbook
A detailed section on Income Tax and Capital Gains Tax in the UK. Includes coverage of taxable persons, taxable income (including capital gains), deductions, allowances, exemptions, reliefs, credits, the treatment of losses, rates, and administration.
Exclusive Capital gains
  • eBook chapter
  • 2023
  • Telegraph Media Group
  • The Telegraph Tax Guide
A chapter summarising the basics of Capital Gains Tax — what it must be paid on, rates of tax, and relevant allowances and reliefs. The author gives tax saving tips, and illustrates points with real-world examples.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

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Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on capital gains tax. A selection of recent books covering this topic is set out below.
Tolley's capital gains tax, 2024-25
  • Library book
  • 2024
  • K. Walton
  • LexisNexis
An annual book providing in-depth but straightforward coverage of capital gains tax law and practice. It is arranged by subject, with various aspects of capital gains tax compliance and planning being covered in turn. Worked examples are included to clarify complex points.
Tolley's yellow tax handbook, 2024-25
  • Library book
  • 2024
  • A. Redston (ed.)
  • LexisNexis
Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.
Enterprise investment scheme: and other venture capital reliefs, 3rd ed.
  • Library book
  • 2024
  • A. Rainford
  • Claritax
A guide to the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS), Venture Capital Trusts (VCTs), Investors' Relief, and Community Investment Tax Relief. In each case, the author looks at the range of tax incentives offered by the legislation, the conditions for relief, and any complicating factors.
Capital gains tax service
  • Library book
  • 2024
  • ICE
  • Intercontinental Exchange (ICE) Data
Annual set of volumes detailing capital events affecting the CGT position of securities, from 31st March 1982 to the present day. It includes event details, CGT adjustment factors, and market values for UK and Irish listed securities.
Capital gains tax, 2024-25
  • Library book
  • 2024
  • A. Rainford, L. Webb, J. Woolley
  • Claritax Books
An in-depth guide to capital gains tax (CGT), aimed at accountants and tax specialists. The book provides expert commentary on the issues practitioners are likely to encounter in their day-to-day work around CGT. Topics covered include main residence relief, business asset disposal relief, partnerships, deceased estates, and more.
Residence: the definition in practice, 5th ed.
  • Library book
  • 2024
  • K. Gordon
  • Claritax
A guide to how the statutory residence test (SRT) is applied in practice. The test is most relevant to income tax and capital gains tax, but in some circumstances may also apply for inheritance tax and corporation tax purposes.
Making gifts of assets: the legal considerations
  • Library book
  • 2024
  • M. Culver
  • Law Society
A guide to the key legal considerations that solicitors ought to take into account when advising clients on making gifts. Includes practical examples of tax and estate planning with gifts, as well as references to relevant recent case law.
Trust taxation and private client tax planning, 5th ed.
  • Library book
  • 2024
  • E. Chamberlain, M. Harrison, R. Wallington
  • Sweet & Maxwell
A guide to all areas of trust taxation and private client tax planning. Covers residence and domicile issues, Income Tax, Capital Gains Tax, Inheritance Tax, houses and chattels, business structures, investments, DOTAS, and compliance.

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Representations

ICAEW REP 064/24 Carried Interest call for evidence
  • Representation
  • 30 Aug 2024
  • PDF (293kb)
A representation dated 30 August 2024 to a consultation published by HM Treasury on 29 July 2024.
ICAEW REP 096/23 EOTs consultation
  • Representation
  • 28 Sep 2023
  • PDF (175kb)
A representation dated 27 September 2023 to a consultation published by HMRC on 18 July 2023.
ICAEW REP 95/21 Autumn Budget 2021 representations - Building a modern tax system
  • Representation
  • 04 Oct 2021
  • PDF (248kb)
A response dated 5 October 2021 to a consultation published by HMT on 30 September 2021, including ICAEW’s Tax Faculty customary pre-Budget letter to the Financial Secretary to the Treasury. It calls for the acceleration of work to build a modern tax system, while urging a “manageable pace” of transition, it cautions against implementing tax changes without consultation, such as the new Health and Social Care Levy.
ICAEW REP 65/21: Tax Administration Framework Review
  • Representation
  • 13 Jul 2021
  • PDF (386kb)
In responding to HMRC's consultation on the Tax Administration Framework Review ICAEW argues that the starting point of such tax reform should be significant simplification of the underlying tax rules and that HMRC needs to be given the resources and funding to give it the capacity to take on such a major piece of work.
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Useful links

Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.

Self Assessment: detailed information on GOV.UK
  • Website
  • 27 Nov 2023
  • GOV.UK
Information, guidance and forms relating to various aspects of the Self Assessment system.
Shares and assets valuations for tax purposes
  • Website
  • 07 May 2019
  • HMRC
Information on the HMRC Shares and Assets Valuations (SAV) team, how to get a Post Transaction Valuation Check, and how to appeal a valuation.
Check if you need to pay tax when you sell cryptoassets
  • Website
  • 19 Dec 2018
  • HMRC
Guidance setting out the circumstances in which you need to pay Capital Gains Tax when you sell or give away cryptoassets.
Self Assessment forms and helpsheets: Capital Gains Tax
  • Website
  • 14 Jun 2018
  • HMRC
Helpsheets providing advice on how to report capital gains when filing Self Assessment tax returns. These cover information about reliefs, shares, business assets, trusts, debt, and other specific topics.
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ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

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