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Capital gains tax

Expert commentary and practical guidance from ICAEW related to capital gains tax in the UK personal tax regime.

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TAXguide 15/20: CGT UK property disposal reporting

The requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property separately from the self assessment tax return was introduced in April 2020. The deadline is 60 days for all completions on or after 27 October 2021.
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TAXguide 10/21: A guide to principal private residence relief

Questions around the tax treatment of someone’s principal private residence (PPR) arise with frequency and all too often the answer is not as straightforward as might first appear. This guide considers the core rules, the traps and the key items to be aware of to help clients through this area of tax law.
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Exclusive

Making the most of capital losses

The end of the tax year is approaching. A reduction to the capital gains tax annual exempt amount is imminent. This may be a good time for taxpayers to take stock of available capital losses, and ensure they have been claimed, says Mei Lim Cooper.
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Exclusive

New capital gains tax rules for separating couples

New rules will allow separating couples more time to transfer assets on a tax-neutral basis. Mei Lim Cooper explains that they’ll need to time it correctly to benefit.
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Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.

Exclusive TAXguide 10/21: A guide to principal private residence relief
  • Helpsheets and support
  • 28 Apr 2021
Questions around the tax treatment of someone’s principal private residence (PPR) arise with frequency and all too often the answer is not as straightforward as might first appear. This guide considers the core rules, the traps and the key items to be aware of to help clients through this area of tax law.
TAXguide 15/20: CGT UK property disposal reporting
  • Technical release
  • 15 Sep 2020
The requirement for UK residents to report and pay capital gains tax (CGT) on disposals of UK residential property separately from the self assessment tax return was introduced in April 2020. The deadline is 60 days for all completions on or after 27 October 2021.
TAXguide 13/19: ENTREPRENEURS’ RELIEF: Further questions on Finance Act 2019 changes
  • Technical release
  • 30 Sep 2019
Following the publication of TAXguide 04/19 ENTREPRENEURS’ RELIEF: Clarification of the new ‘5% proceeds test’ inserted by Finance Act 2019 - questions on scope of the new provisions along with HMRC responses, further questions have arisen on the Finance Act 2019 entrepreneurs’ relief legislation.
TAXguide 03/19: Finance Act 2018 section 35 and schedule 10 – settlements anti-avoidance
  • Technical release
  • 21 Mar 2019
This TAXguide has been prepared by committee members of STEP, ICAEW, the CIOT and the Law Society to highlight practical issues and uncertainties raised by Finance Act 2018 Schedule 10 (Settlements: Anti-avoidance, etc.).
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Features and articles

Exclusive Tax advantages and pitfalls of an earn-out
  • Article
  • 01 Dec 2023
James Moore describes the use of an earn-out in M&A transactions and highlights the risk of reclassification as earnings.
Insight: employee ownership trusts
  • Article
  • 09 Nov 2023
For a certain type of business, transferring ownership to employees is an exit option that has been continuing to increase in popularity over the past 12 months, despite the challenges facing exit routes. David Prosser reports.
Exclusive The substantial shareholding exemption and degrouping charges
  • Article
  • 03 Nov 2023
Peter Rayney examines the vexatious ‘M Group Holdings’ degrouping gains case and considers how companies could avoid the pitfalls.
Tax cut possible, says IFS expert
  • Article
  • 01 Nov 2023
Despite Chancellor Jeremy Hunt saying it will be “virtually impossible” to cut taxes until the economic outlook improves, the deputy director and head of tax at the Institute for Fiscal Studies says it remains possible for individual taxes to be cut as early as the Autumn Statement. Writing in the Daily Telegraph, Helen Miller said individual measures could be considered, such as reforming stamp duty, council tax, or increasing taxes on capital gains.
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Markel Tax FAQs

Questions and answers on UK tax issues and trends from the ICAEW Tax and VAT Helpline, a subscription service provided by Markel Tax.

Exclusive Spouse transfer and private residence relief
  • Helpsheets and support
  • 02 Nov 2023
FAQ onthe new rules regarding disposals made between married or divorced couples who are no longer living together on or after 6 April 2023.
Exclusive Tax relief and gifting of commercial property
  • Helpsheets and support
  • 05 May 2023
FAQ on what tax relief might be available on business properties to be gifted to a garage owner's son. The properties have been rented out to third properties to generate an income.
Exclusive Deferring CGT payments
  • Helpsheets and support
  • 12 Apr 2023
FAQ on whether it is possible to defer payment of the Capital Gains Tax (CGT) liability arising from an asset sold, which the buyer is paying for in instalments.
Exclusive Loans to traders
  • Helpsheets and support
  • 06 Dec 2022
FAQ on whether tax relief be claimed on a loan which a client made to his company, but which cannot now be reclaimed.

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Exclusive Capital gains tax
  • eBook chapter
  • 2023
  • Jackie Anderson, Mark McLaughlin
  • Incorporating and Disincorporating a Business
Chapter containing practical advice on capital gains tax in relation to incorporating a business.
Exclusive Incorporation of a rental property business
  • eBook chapter
  • 2023
  • Jackie Anderson, Mark McLaughlin
  • Incorporating and Disincorporating a Business
A chapter discussing the tax issues to consider when incorporating a rental property business.
Exclusive Business Asset Disposal Relief (previously Entrepreneurs’ Relief)
  • eBook chapter
  • 2023
  • David Whiscombe
  • Partnership Taxation
Chapter providing expert guidance on business asset disposal relief (previously called entrepreneurs’ relief) in relation to a business partnership.
Exclusive Capital gains tax 2023/24
  • eBook
  • 2023
  • Chris Erwood, Jacquelyn Kimber, Iris Wünschmann-Lyall
Examines the current capital gains tax legislation and HMRC guidance in a comprehensive and accessible style.
Exclusive Disposals
  • eBook chapter
  • 2023
  • Chris Erwood, Jacquelyn Kimber, Iris Wünschmann-Lyall
  • Capital Gains Tax
Expert commentary on the current capital gains tax legislation related to the disposal of an asset in the UK.
Exclusive Main residence relief
  • eBook chapter
  • 2023
  • Chris Erwood, Jacquelyn Kimber, Iris Wünschmann-Lyall
  • Capital Gains Tax
Expert commentary on the current UK capital gains tax legislation related to main residence relief.
Exclusive Venture capital reliefs
  • eBook chapter
  • 2023
  • Chris Erwood, Jacquelyn Kimber, Iris Wünschmann-Lyall
  • Capital Gains Tax
Expert commentary on the current UK capital gains tax legislation related to venture capital reliefs: SEIS, EIS, VCT and SITR.
Exclusive Land and property
  • eBook chapter
  • 2023
  • Chris Erwood, Jacquelyn Kimber, Iris Wünschmann-Lyall
  • Capital Gains Tax
Expert commentary on the current capital gains tax legislation related to the taxation of land and property in the UK.
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You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

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Business asset disposal relief

Exclusive Taxing top incomes: design issues and challenges beyond politics
  • Article
  • 04 May 2023
The recent biennial Institute for Fiscal Studies conference brought together delegates from academia, government and practice to discuss the taxation of top incomes. Mei Lim Cooper looks at some of the cross-cutting themes that emerged.
Exclusive Entrepreneurs’ relief
  • Article
  • 06 Dec 2022
How long must a qualifying beneficiary have an interest in possession for a trust to qualify for entrepreneurs’ relief on a disposal of trust business assets?
Exclusive Capital gains tax: partnership or company?
  • Article
  • 04 Oct 2021
Mark McLaughlin looks at the distinction between partnerships and companies for business asset disposal relief (BADR) purposes in relation to pre-trading activities and capital gains tax, focusing on Wardle v Revenue and Customs.
Exclusive Entrepreneurs’ relief
  • Article
  • 04 May 2021
Rachael Dronfield provides an update on entrepreneurs’ relief for trust business assets in relation to the Quentin Skinner 2005 settlement.

eBooks

The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.

Exclusive Individual income tax
  • eBook chapter
  • 2023
  • IBFD
A detailed section on Income Tax and Capital Gains Tax in the UK. Includes coverage of taxable persons, taxable income (including capital gains), deductions, allowances, exemptions, reliefs, credits, the treatment of losses, rates, and administration.
Exclusive Capital gains
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter summarising the basics of Capital Gains Tax — what it must be paid on, rates of tax, and relevant allowances and reliefs. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Residence and domicile
  • eBook chapter
  • 2023
  • Telegraph Media Group
A chapter covering the concepts of residence and domicile, and their respective implications for an individual’s liability to Income Tax, Capital Gains Tax, and Inheritance Tax in the UK. The author gives tax saving tips, and illustrates points with real-world examples.
Exclusive Capital gains tax and lifetime settlements
  • eBook chapter
  • 2023
  • Ed King
A short section on the Capital Gains Tax treatment of disposals to settlements. Points are illustrated with worked examples.
Exclusive Estate planning: capital gains tax
  • eBook chapter
  • 2023
  • Ed King
A detailed section examining the Capital Gains Tax issues that one ought to be aware of when advising a client on making lifetime outright gifts. Covers rates, calculation, exemptions, death, and reliefs. Points are illustrated with worked examples.
Exclusive Partnerships
  • eBook chapter
  • 2022
  • Malcolm James
  • Taxation of Small Businesses
A full chapter on the taxation of partnerships, including limited partnerships and LLPs. It focuses mainly on Income Tax, but includes a detailed subsection on Capital Gains Tax.
Exclusive Capital Gains Tax and chargeable gains
  • eBook chapter
  • 2022
  • Malcolm James
  • Taxation of Small Businesses
A detailed chapter on Capital Gains Tax, intended for advisors to small businesses. Includes sections on exemptions, reliefs, offsetting, allowable costs, valuation of assets, and more. Some points are illustrated with worked examples.
Exclusive Capital Gains Tax
  • eBook chapter
  • 2021
  • Malcolm James
  • UK Tax System - An Introduction
An overview of Capital Gains Tax, covering: exemptions; residence and domicile; annual exemption and losses; capital gains tax rate; disposal consideration; date of disposal; allowable costs; married couples; disposal to connected parties; part disposals and shares.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

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Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on capital gains tax. A selection of recent books covering this topic is set out below.
Discovery assessments: how to challenge them, 4th ed.
  • Library book
  • 2023
  • K. Gordon
  • Claritax
This book covers the various issues relating to discovery assessments, with a focus on how they apply to income tax and capital gains tax. It provides a clear and comprehensive guide to the rules concerning discovery assessments, and sets out practical advice as to how such assessments may be challenged.
Tolley's yellow tax handbook, 2023/24
  • Library book
  • 2023
  • A. Redston (ed.)
  • LexisNexis
Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.
Tolley's capital gains tax, 2023-24
  • Library book
  • 2023
  • K. Walton
  • LexisNexis
An annual book providing in-depth but straightforward coverage of capital gains tax law and practice. It is arranged by subject, with various aspects of capital gains tax compliance and planning being covered in turn. Worked examples are included to clarify complex points.
Capital gains tax, 2023-24
  • Library book
  • 2023
  • A. Rainford, L. Webb, M. Saksida
  • Claritax Books
An in-depth guide to capital gains tax (CGT), aimed at accountants and tax specialists. The book provides expert commentary on the issues practitioners are likely to encounter in their day-to-day work around CGT. Topics covered include main residence relief, business asset disposal relief, partnerships, deceased estates, and more.
Business Asset Disposal Relief — 15 years on
  • Library book
  • 2023
  • R. Jamieson
  • LexisNexis
A Tax Digest examining the development of Business Asset Disposal Relief (previously known as Entrepreneurs’ Relief) since the introduction of the regime in 2008. It aims to bring readers up-to-date with all aspects of this valuable capital gains tax incentive.
Tax implications on family breakdown, 2nd ed.
  • Library book
  • 2023
  • S. Thomas, J. Pirrie
  • Bloomsbury Professional
This book addresses a range of tax-related problems which often arise in financial remedy cases, with the aim of assisting tax and family law practitioners in ensuring that all necessary information is available to the court, or within alternative dispute resolution processes. Includes guidance on what to expect from the process of working as a Single Joint Expert.
How to save property tax (30th edition)
  • Library book
  • 2023
  • C. Bayley
  • Taxcafe UK
Tried and tested tax saving ideas which will help you pay less income tax, capital gains tax and stamp duty land tax on your property investments.
Capital gains tax, 2022/23
  • Library book
  • 2022
  • J. Kimber, I. Wünschmann-Lyall, C. Erwood
  • Bloomsbury Professional
An accessible reference guide to capital gains tax, focused on the most commonly found transactions and reliefs. Includes numerous worked examples, as well as cross-references to tax legislation, the HMRC manuals, and other HMRC guidance.

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Representations

ICAEW REP 096-23 EOTs consultation
  • Representation
  • 28 Sep 2023
  • PDF (175kb)
A representation dated 27 September 2023 to a consultation published by HMRC on 18 July 2023.
ICAEW REP 95/21 Autumn Budget 2021 representations - Building a modern tax system
  • Representation
  • 04 Oct 2021
  • PDF (248kb)
A response dated 5 October 2021 to a consultation published by HMT on 30 September 2021, including ICAEW’s Tax Faculty customary pre-Budget letter to the Financial Secretary to the Treasury. It calls for the acceleration of work to build a modern tax system, while urging a “manageable pace” of transition, it cautions against implementing tax changes without consultation, such as the new Health and Social Care Levy.
ICAEW REP 65/21: Tax Administration Framework Review
  • Representation
  • 13 Jul 2021
  • PDF (386kb)
In responding to HMRC's consultation on the Tax Administration Framework Review ICAEW argues that the starting point of such tax reform should be significant simplification of the underlying tax rules and that HMRC needs to be given the resources and funding to give it the capacity to take on such a major piece of work.
ICAEW REP 105/20 Capital gains tax review
  • Representation
  • 09 Nov 2020
  • PDF (348kb)
A response dated 9 November 2020 to a consultation published by OTS on 14 July 2020.
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Useful links

Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.

Self Assessment: detailed information on GOV.UK
  • Website
  • 27 Nov 2023
  • GOV.UK
Information, guidance and forms relating to various aspects of the Self Assessment system.
Shares and assets valuations for tax purposes
  • Website
  • 07 May 2019
  • HMRC
Information on the HMRC Shares and Assets Valuations (SAV) team, how to get a Post Transaction Valuation Check, and how to appeal a valuation.
Check if you need to pay tax when you sell cryptoassets
  • Website
  • 19 Dec 2018
  • HMRC
Guidance setting out the circumstances in which you need to pay Capital Gains Tax when you sell or give away cryptoassets.
Self Assessment forms and helpsheets: Capital Gains Tax
  • Website
  • 14 Jun 2018
  • HMRC
Helpsheets providing advice on how to report capital gains when filing Self Assessment tax returns. These cover information about reliefs, shares, business assets, trusts, debt, and other specific topics.
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ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

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ICAEW tax and VAT helpline is a subscription based service provided by Markel Tax (formerly Abbey Tax). It offers expert, practical advice on UK tax and VAT issues and trends.

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The ICAEW Library can give you the right information from trustworthy, professional sources that aren't freely available online. Contact us for expert help with your enquiries and research.

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Some of the content on this web page was provided by the Chartered Accountants’ Trust for Education and Research, a registered charity, which owns the library and operates it for ICAEW.