If you sell a property for a profit, then you will have to pay Capital Gains Tax (CGT).
How much you actually pay then depends on two things:
Usually, capital gains tax is 10% or 20%, but for properties it’s 18% or 28% of the profit instead.
How much will I pay?
You can simply use this capital gains tax calculator to see what your tax bill could be:
Your total capital gains tax (CGT) owed depends on two main components:
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 £20,000.00 and your total annual earnings were £69,000.00:
You pay no CGT on the first £12,000.00 that you make
You pay £100.00 at 10% tax rate for the next £1,000.00 of your capital gains
You pay £1,400.00 at 20% tax rate on the remaining £7,000.00 of your capital gains
You don’t have to pay Capital Gains Tax on property when:
If you have let out either part or all of your home for a while, you can also apply for letting relief.
This will be the lowest of:
Simple: if you own the property jointly, you each benefit from the £12,000 capital gains allowance.
You can nominate which one is your home. It doesn’t have to be where you live most of the time.
Married couples and civil partners can have only one main home between them.
If it has increased in value since you bought it, yes – read more here.
We can simply calculate and file your property capital gains tax as part of your Self Assessment tax return.
All done online and for a flat £119 – we won’t charge you anything extra for it.
Get your self assessment prepared for you online by certified accountants for £119
Our online tax-bot will go over your tax situation and will make sure you won’t overpay your taxes.
You can talk to one of our tax assistants at any time during the process when you have any questions.
We’ll tell you exactly what documents you need and sort them for you online. You just upload them or snap a picture with your phone.
Your certified accountant will go over your details & prepare your tax return for you to review. It will be filed on your behalf once you approve it.
We have a simple online service that guides you through the entire process. Regardless of your reasons for doing your tax return we'll help you get it done right.
We'll prepare your self assessment and help to maximise your CIS tax refund. We have the lowest fees in the industry and you don't have to pay up front if you're eligible for a refund.
Our service allows people living abroad to prepare their income tax return online. We are able to process all returns regardless of your current country of residence.
UK company directors are required to file their self assessment annually. TaxScouts handles this through a simple online process.
Long Lets, Airbnb, Capital Gains. TaxScouts will sort out your self assessment and take away the worry of tracking all the recent tax changes.
TaxScouts ensures the self employed don't overpay on their taxes. We'll help you benefit from all the tax breaks and deductions that can be applied to your return.
At TaxScouts we appreciate that tax returns are highly individual. Before you get assigned an accountant we make sure to understand your circumstances and help you build your optimal tax profile.