CGT30 Mar 2021 15:16
What you pay it on
You pay Capital Gains Tax on the gain when you sell (or ‘dispose of’):
most personal possessions worth £6,000 or more, apart from your car
property that’s not your main home
your main home if you’ve let it out, used it for business or it’s very large
shares that are not in an ISA or PEP
business assets
These are known as ‘chargeable assets’.
If you sell or give away cryptoassets (like cryptocurrency or bitcoin) you should check if you have to pay Capital Gains Tax.
Depending on the asset, you may be able to reduce any tax you pay by claiming a relief.
If you dispose of an asset you jointly own with someone else, you have to pay Capital Gains Tax on your share of the gain.
When you do not pay it
You only have to pay Capital Gains Tax on your total gains above an annual tax-free allowance.
You do not usually pay tax on gifts to your husband, wife, civil partner or a charity.
What you do not pay it on
You do not pay Capital Gains Tax on certain assets, including any gains you make from:
ISAs or PEPs
UK government gilts and Premium Bonds
betting, lottery or pools winnings