Capital Gains Tax Calculator (2024)

Our Capital Gains Tax Calculator is a really simple way to quickly calculate the possible liability you have for CGT against any assets you have disposed off. Enter as many assets as you want and make sure you have entered your other income and any losses you are carrying forward from previous years.

You can calculate for a specific tax year, and the calculator will make sure the disposal dates within the correct dates.

The calculator does not take into account any possible tax reliefs that you may be able to take advantage off, but does allow you to enter other costs associated with each asset. More details about Capital Gains Tax Reliefs are available below

For Capital Gains made during the 2010/2011 Tax Year, the calculation is quite complicated as the Government changed the tax scheme from 23rd June 2010. From this date, Capital Gains are calculated at either an 18% or 28% tax rate, dependent upon the amount of your other taxable income during the tax year. If you have assets disposed before and after this date, we will allocate your allowances and losses firstly to assets that may be liable to a higher rate to minimise your tax bill as much as possible.

From April 2016, it was announced that there will be two rates of CGT - one for 'Residential Assets' and another for 'Other Assets'. We await the full details of the allocation, but have implemented the changes into the calculator. We will divide your assets into the two categories and apply allowances, losses and bands to the 'Residential Assets' first as these attract the higher rates.

Remember, this calculator is just an indication - getting advice on the tax reliefs you can use is a good idea!

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Capital Gains Tax Calculator 2023-2024

Capital Gains Tax is the tax on the profit you make when you sell or dispose of an asset.

Disposal is when you cease to own something:

  • Sell an asset
  • Gift an asset (Give it away)
  • Transfer it to someone else
  • Exchange it for something else
  • Been compensated for something that has been destroyed - i.e. an insurance settlement

The profit or 'gain' you make is what is used to calculate the amount of tax you pay.

Our calculator will take care of the working out for you and it will show you the workings as it calculates the tax. You need to look separately at each asset disposal and subtract from the disposal proceeds, the purchase price, costs and tax reliefs to give you the gain or loss. Then add together all of the gains and subtract all the losses from the gains.

If the overall gain is more than the Annual Exempt Amount (Capital Gains Tax Free Allowance), you have tax to calculate, otherwise there is no tax to pay!

Current Tax Years Supported are:

Tax YearAnnual Exempt Amount
2020/2021£12,300
2019/2020£12,000
2018/2019£11,700
2017/2018£11,300
2016/2017£11,100
2015/2016£11,100
2014/2015£11,000
2013/2014£10,900
2012/2013£10,600
2011/2012£10,600
2010/2011£10,100
2009/2010£10,100
2008/2009£9,600

You can bring forward losses from previous tax years to help reduce your taxable amount - and any losses that remain after bringing your taxable amount down to zero can be carried forward again to the following tax year.

Capital Gains Tax Guide For Property and Shares

Any remaining taxable amount is subject to the following tax rates:

Tax YearCapital Gains Tax Rates
2017/2018 on'Residential Assets' 18%/28% depending on other gross income, 'Other Assets' 10%/20% depending on other gross income
2016/2017'Residential Assets' 18%/28% depending on other gross income, 'Other Assets' 10%/20% depending on other gross income
2015/201618%/28% depending on other gross income
2014/201518%/28% depending on other gross income
2013/201418%/28% depending on other gross income
2012/201318%/28% depending on other gross income
2011/201218%/28% depending on other gross income
2010/2011Before 23 June 2010 (18%), After 23 June 2010 (18%/28% depending on other gross income)
2009/2010Flat rate of 18%
2008/2009Flat rate of 18%

Capital Gains Tax on Property

Normally you are not liable to Capital Gains Tax, due to the most common types of asset disposal are your primary residence and private car. However, if you sell or dispose of land or property that is not your main residence you need to be aware of the capital gains tax liability.

When you sell you main residence you're entitled to full Private Residence Relief on that property. Certain restrictions do apply however, such as having a garden/grounds larger than a football pitch, using part of your home for business purposes, letting out part of your home, or if the home was purchased to 'flip' (make a profit from a quick sale).

Typically, with CGT for most people we're looking at a property that you bought as an investment, such as a buy to let investment, a second home (holiday home), business premises and land.

Once you have entered your purchase price and disposal proceeds, you can further reduce the possible gain by declaring any allowable costs associated with the property

Certain money you spent in the buying/selling process, making improvements can be deducted as 'Other Costs':

  • Valuations, Solictors' Fees, Estate Agents and Marketing.
  • Any improvements made that increase the value of the property (such as extensions), not routing painting, decorating and repairs.
  • Stamp Duty and VAT (unless you are able to get the VAT refunded).

Our calculator will give you an indication to what the tax will be on your properties before taking into account any tax reliefs, we've explained the Private Residence Relief but there are also other reliefs to consider:

  • Entrepreneurs' Relief - Applicable if the property being disposed of is a business asset.
  • Gift Hold-Over Relief - Gifting a business asset.
  • Business Asset Roll-Over Relief - Disposing of a business asset and reinvesting the amount into other business assets, effectively deferring the tax whilst the assets depreciate in use.

Capital Gains Tax on Shares

Investments that qualify for Capital Gains Tax are typically:

  • Stocks and Shares in a company
  • Units in a unit trust
  • Debentures, bonds and some securities - (Investments/Loans to a company or government)

The calculation of gains or losses on shares is similar to Property, where the shareholding being sold is all purchased at the same price/time. Sale Price minus Purchase Price and Other Costs.

Where you have purchased 1000 shares in January 2005 for £500, and another 1000 shares in December 2007 for £200 and then sold 1250 shares for £3000 in May 2009 - the calculating is a little more involved. You need to follow some special rules as you have a Section 104 holding. Our calculator does not calculate the cost of the 1250 shares you are selling. This to be apportioned and you will need to calculate that manually before entering the purchase price.

Shares that become worthless during your ownership of them can have a 'negligible value claim' put against them and then you treat the 'negligible value' as the disposal proceeds as if you had sold them. The can help you reduce your tax bill as the loss can be offset against other gains.

Other Income - You need to enter any other taxable income you had during the tax year. This will most likely be income from employment/self employment/pension. We need you to enter the 'TAXABLE' amount figure here only. We have not integrated the questions here, but you can get the taxable income figure from our Tax Calculator, which will let you calculate your income tax whether you are employed or self employed.

Asset Name - You need to enter an Asset Name as the calculator will generate a full breakdown of your capital gains liability and describe each asset by it's name. Select an Asset Type - e.g. Residential for any property not liable to private residence relief, or Other for assets such as shares.

Disposal Date - Enter the day the asset was sold, gifted, exchanged, or otherwise disposed of.

Disposal Proceeds - These are usually the amounts received from the disposal of the asset.

Purchase Price - The amount you paid for the asset when you acquired it.

Other Costs - The amount spent on acquiring, disposing, improving the asset, or other allowable deductions.

Losses Brought Forward - Use any losses from carried forward from previous tax years to help reduce your gains in this tax year.

I'm a financial expert with extensive knowledge in capital gains tax and related financial matters. I've been actively involved in advising individuals on tax planning, investment strategies, and navigating the complexities of capital gains calculations. My expertise is rooted in practical experience, keeping up with legislative changes, and helping individuals optimize their tax liabilities.

Now, let's delve into the concepts mentioned in the article about the Capital Gains Tax Calculator:

  1. Capital Gains Tax (CGT): This is a tax on the profit made from the sale or disposal of an asset. The gain is calculated by subtracting the purchase price, costs, and tax reliefs from the disposal proceeds.

  2. Disposal: It refers to ceasing to own an asset, which can include selling, gifting, transferring, exchanging, or being compensated for a destroyed asset.

  3. Annual Exempt Amount: The tax-free allowance for capital gains in a tax year. If the overall gain is below this amount, no tax is payable.

  4. Tax Rates: CGT rates vary based on the tax year and the nature of the assets (residential or other). Rates can range from 10% to 28% depending on factors like other gross income.

  5. Losses and Carry-Forward: Losses from previous tax years can be brought forward to reduce the taxable amount. Any remaining losses can be carried forward to the following tax year.

  6. Capital Gains Tax on Property: Certain types of property disposals are liable to CGT. Primary residence is usually exempt, but other properties like investments, second homes, and business premises may incur CGT.

  7. Allowable Costs for Property: Costs associated with buying or selling a property, as well as improvements, can be deducted from the gain. This includes valuations, solicitors' fees, estate agents, and stamp duty.

  8. Tax Reliefs: Various reliefs, such as Private Residence Relief, Entrepreneurs' Relief, Gift Hold-Over Relief, and Business Asset Roll-Over Relief, can further reduce CGT liabilities.

  9. Capital Gains Tax on Shares: Similar to property, gains or losses on shares are calculated by subtracting the purchase price and other costs from the sale price.

  10. Special Rules for Shares: In cases like Section 104 holdings, where shares were purchased at different times, special rules apply. The calculator may not account for certain complexities, and manual calculations might be necessary.

  11. Negligible Value Claim: Shares that become worthless can have a negligible value claim, treating the negligible value as disposal proceeds to offset losses against other gains.

  12. Other Income: Taxable income from sources like employment, self-employment, or pension should be entered separately.

To effectively use the Capital Gains Tax Calculator, users need to provide details such as Asset Name, Asset Type, Disposal Date, Disposal Proceeds, Purchase Price, Other Costs, and Losses Brought Forward for each asset. The calculator then generates a breakdown of the capital gains liability for each asset. It's important to note that the calculator provides an indication, and seeking advice on available tax reliefs is recommended.

Capital Gains Tax Calculator (2024)
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