There are several other considerations to be mindful of when disposing of or looking to improve an asset
In terms of proceeds, if you give away an asset HMRC will treat you as having sold it for what it is worth (that is, the market value), even though you have not received any proceeds.
If you are selling an asset you owned at 31 March 1982, you use the market value as it was on 31 March 1982 for the cost value.
When you improve or add to your asset, you can deduct this cost in the calculation (this will reduce the gain), but you can only include improvements, for example, an extension to a house, and not general repairs and maintenance.
Similarly, you can deduct the incidental costs of buying and selling in the calculation. Typical costs include legal expenses and estate agents’ fees for property, and broker’s commission on the purchase and sale of shares.
There are also more rules to consider if you sell part of a piece of land you own and if you sell blocks of shares in the same company acquired at different times.