Capital Gains Tax rates | Capital gain tax

First, deduct the Capital Gains tax-free allowance from your taxable gain. For the 2020 to 2021 tax year the allowance is £12,300, which leaves £300 to pay tax ...CookiesonGOV.UKWeusesomeessentialcookiestomakethiswebsitework.We’dliketosetadditionalcookiestounderstandhowyouuseGOV.UK,rememberyoursettingsandimprovegovernmentservices.Wealsousecookiessetbyothersitestohelpusdelivercontentfromtheirservices.AcceptadditionalcookiesRejectadditionalcookiesViewcookiesYoucanchangeyourcookiesettingsatanytime.HidethismessageSkiptomaincontentCoronavirus(COVID-19)GuidanceandsupportHomeMoneyandtaxCapitalGainsTaxCapitalGainsTaxSkiptocontentsofguideContentsOverviewWhatyoupayitonCapitalGainsTaxallowancesGiftstoyourspouseorcharityWorkoutifyouneedtopayReportandpayCapitalGainsTaxCapitalGainsTaxratesIfyoumakealossRecordkeepingMarketvalueCapitalGainsTaxratesYoupayadifferentrateoftaxongainsfromresidentialpropertythanyoudoonotherassets.Youdonotusuallypaytaxwhenyousellyourhome.IfyoupayhigherrateIncomeTaxIfyou’reahigheroradditionalratetaxpayeryou’llpay:28%onyourgainsfromresidentialproperty20%onyourgainsfromotherchargeableassetsIfyoupaybasicrateIncomeTaxIfyou’reabasicratetaxpayer,therateyoupaydependsonthesizeofyourgain,yourtaxableincomeandwhetheryourgainisfromresidentialpropertyorotherassets.Workouthowmuchtaxableincomeyouhave-thisisyourincomeminusyourPersonalAllowanceandanyotherIncomeTaxreliefsyou’reentitledto.Workoutyourtotaltaxablegains.Deductyourtax-freeallowancefromyourtotaltaxablegains.Addthisamounttoyourtaxableincome.IfthisamountiswithinthebasicIncomeTaxbandyou’llpay10%onyourgains(or18%onresidentialproperty).You’llpay20%(or28%onresidentialproperty)onanyamountabovethebasictaxrate.ExampleYourtaxableincome(yourincomeminusyourPersonalAllowanceandanyIncomeTaxreliefs)is£20,000andyourtaxablegainsare£12,600.Yourgainsarenotfromresidentialproperty.First,deducttheCapitalGainstax-freeallowancefromyourtaxablegain.Forthe2020to2021taxyeartheallowanceis£12,300,whichleaves£300topaytaxon.Addthistoyourtaxable


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