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Capital Gains Tax calculator

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Quickly know how much Capital Gains Tax you owe.
Where did you get profits?
Profits from capital gains
£
Annual income
£
Outside of capital gains
Select tax year
Profits after tax
£18.5k
CGT
£1.5k
Profits from selling shares
£20,000
Capital Gains Tax (CGT)
£1,500

First £12,000 are tax-free.

£1,000 taxed at 10%: £100

£7,000 taxed at 20%: £1,400

Your profits after tax
£18,500

How your capital gains tax is calculated

Your total capital gains tax (CGT) owed depends on two main components:

  1. How much you earn in total
  2. What type of assets you sell

Your overall earnings determine how much of your capital gains are taxed at 10% or 20%.
Our capital gains tax rates guide explains this in more detail.

In your case where capital gains from shares were £20,000 and your total annual earnings were £69,000:

Capital gains tax (CGT) breakdown

You pay no CGT on the first £12,000 that you make

You pay £100 at 10% tax rate for the next £1,000 of your capital gains

You pay £1,400 at 20% tax rate on the remaining £7,000 of your capital gains

Common questions

You’re not alone. If you’ve got a question about tax we’ve probably heard it before and have an answer, or we can walk you through what to do.

More self-service guides and FAQs

You don’t have to pay Capital Gains Tax (CGT) on property when:

  • you’re selling your main home
  • if your profit is less than £12,000

What you can claim to reduce your CGT bill:

  • if you have let out your home for a while, you can apply for letting relief
  • if you made a loss from selling another property last year, you can claim it this year (it’s called “carrying it forward”)

Read more in our guide to CGT on property here

ISAs stand for Individual Savings Accounts. They’re meant to encourage people to save more.

How they work:

  • any gain you get from an ISA is completely tax-free: dividends, profits from shares, ETFs, interest, etc
  • you can only contribute up to £20,000 per year into all your ISAs combined
  • you can also only contribute into one of the each kinds of ISA per year – so if you have a Stocks&Shares ISA, you either continue paying into it this year, or transfer to a different provider (but only once per year)

The UK tax year for individuals starts April 6th and ends April 5th of the following year. From then, you have until January 31st to complete your online tax return for the previous tax year.

More on tax dates can be found here

If the value of the coins you got from mining or trading cryptocurrencies like Bitcoin or Ethereum is over £1,000 in GBP equivalent you’ll have to pay tax on your earnings.

HMRC treats cryptocurrency miners as traders, so you need to pay:

  • income tax and
  • national insurance

If you don’t declare yourself as a trader you will automatically be classified as an investor and have to pay Capital Gains Tax.

Learn more about cryptocurrency taxes

When it comes to Self Assessment mistakes, we’ve seen them all. Here are a few you’ll want to avoid:

  • Not knowing deadlines and key dates
  • Forgetting about tax reliefs you can claim
  • Forgetting about Payment on Account
  • Getting your tax code wrong
  • Not including total income and benefits from PAYE

Read more about these and other mistakes you can avoid

 

Need help doing your Capital Gains Tax return?

Figuring out how much tax you owe on your capital gains is hard.

Filing a personal tax return without making a mistake is even harder.

At TaxScouts, we do it for you online, fast, and for just £119, all in.

How it works

1. Answer a few simple questions

And we mean a few. After a couple of minutes of answering questions online we’ll have everything we need to start working on your tax return.

2. Then get paired with a tax accountant

That’s right, you’ll be matched with a real accountant who is best suited to prepare your return. Plus, they’re on hand for questions whenever you need.

3. We file your Self Assessment for you

Once you’ve signed off your return, your TaxScouts accountant will file your return online with HMRC. That’s it! We told you it was simple.