Letting out part of your home – claiming lettings relief
Renting out part of your home may affect Capital Gains Tax when you sell. While Private Residence Relief applies, Letting Relief can reduce taxable gains. Learn how PRR, Letting
Private Residence Relief – when it applies
Selling your main residence? Private Residence Relief can exempt you from Capital Gains Tax. If you meet certain conditions, there may be nothing to pay.
In most cases, Capital
File and paying CGT after property sales
Capital Gains Tax on certain residential property sales must be reported and paid within 60 days to avoid penalties and interest.
The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £3,000. CGT is normally charged at a simple flat rate of 24% and this applies to most
Holding over gains on gifts
Gift Hold-Over Relief is a form of Capital Gains Tax (CGT) relief that allows you to defer paying CGT when certain assets, such as qualifying shares, are given away or sold for less than their market value, typically to benefit the recipient.
Instead of paying tax at the time of the gift, the gain
Making a negligible value claim with HMRC
A negligible value claim lets taxpayers declare an asset worthless for tax purposes, realising a capital loss without selling. This can be backdated up to two years, offering
The present limits for Business Assets Disposal Relief
Business Asset Disposal Relief (BADR) still offers a valuable tax break, but the CGT rate has risen to 14% from April 2025 and will increase again to 18% in April 2026.
BADR provides a valuable tax advantage by offering a reduced rate of Capital Gains Tax (CGT) on the sale of a business, shares in
Found objects and Capital Gains Tax
Items discovered lying on land or buried in the soil, such as antiques or historical objects, are treated as chattels for Capital Gains Tax (CGT) purposes. This remains true even if ownership is tied to the ownership of the land where the item was found. Since these objects were not intended to be
Capital Gains valuations of goodwill
Who values goodwill when a business is sold? HMRC's Shares and Assets Valuation team takes the lead.
Whether the goodwill belongs to a sole trader, partnership or limited company, HMRC’s SAV team will either accept the submitted valuation, give their own open market estimate, or state they need
Business Asset Disposal Relief – forthcoming changes
The BADR Capital Gains Tax rate has risen to 14% from April 2025 and will increase further to 18% in April 2026.
Business Asset Disposal Relief (BADR) offers a valuable tax
Deferring gains using Incorporation Relief
Thinking of transferring your sole trader or partnership business into a limited company? Incorporation Relief can help defer any capital gains tax on assets like goodwill. If the
