What is Capital Gains Tax?

Capital Gains Tax is a tax charged if you sell, give away, exchange or dispose of a capital asset and make a profit or ‘gain’.

The amount of tax you pay is based on the gain and not the amount you actually receive. To calculate the gain, it is the difference between the cost (or value of the asset) when acquired and the disposal proceeds (or value when disposed of).

Updated on 7th May 2021

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