Our Capital Gains Tax Calculator is a really easy way to quickly calculate the potential liability you have for CGT against assets you have disposed of. Enter as many assets as you like and make sure you have entered your other income and losses from previous years.
You can calculate for a specific fiscal year and the calculator will ensure that the disposition dates are within the correct dates.
The calculator does not take into account potential tax benefits that you may be able to claim, but allows you to enter other costs associated with each asset. More details aboutCapital Gains Tax Allowancesare available below
For capital gains realized during the 2010/2011 tax year, the calculation is quite complicated as the government changed the tax regime effective June 23, 2010. From that date, capital gains will be calculated at a rate of 18% or 28% depending on the amount of your other taxable income during the tax year. If you have disposed of assets before and after this date, we will first allocate your allowances and losses to assets that may be subject to a higher tax rate, in order to minimize your tax burden.
As of April 2016, it was announced that there would be two sets of CGT: one for 'Residential Assets' and one for 'Other Assets'. We're awaiting full allocation details, but have implemented the changes in the calculator. We divide your assets into two categories and first apply allowances, losses and ranges to “residential assets” as these attract the highest interest.
Keep in mind that this calculator is just a guide - it's a good idea to get advice on which tax breaks you can take advantage of!
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Capital Gains Tax Calculator 2022-2023
Capital gains tax is the tax on the gains you receive when you sell or dispose of an asset.
Disposition is when you stop owning something:
- sell an asset
- Give away an asset (Give it away)
- Transfer it to someone else
- change it to something else
- You were compensated for something destroyed, e.g. B. an insurance benefit
The profit or “profit” you make will be used to calculate the tax you owe.
Our calculator does the calculation for you and shows you how it works when calculating the tax. You must analyze each disposal of assets separately and subtract the purchase price, expenses and tax allowances from the proceeds of the disposal to determine the gain or loss. Then add up all the wins and subtract all the losses from the wins.
If the total profit exceeds the annual allowance (capital gains tax allowance), you must calculate the tax; otherwise no taxes apply!
The supported current tax years are:
| fiscal year | Tax-free annual amount |
|---|---|
| 2020/2021 | £ 12.300 |
| 2019/2020 | 12.000 £ |
| 2018/2019 | £ 11.700 |
| 2017/2018 | £ 11.300 |
| 2016/2017 | £ 11.100 |
| 2015/2016 | £ 11.100 |
| 2014/2015 | £ 11.000 |
| 2013/2014 | £10.900 |
| 2012/2013 | £10.600 |
| 2011/2012 | £10.600 |
| 2010/2011 | £10.100 |
| 2009/2010 | £10.100 |
| 2008/2009 | £ 9.600 |
You can carry forward losses from previous tax years to reduce your taxable amount and any losses remaining after you have reduced your taxable amount to zero can be carried over again to the next tax year.
Capital Gains Tax Guide for Real Estate and Stocks
The remaining taxable amount is subject to the following tax rates:
| fiscal year | Capital Gains Tax Rates |
|---|---|
| 2017/2018 im | "Housing assets" 18%/28% depending on other gross income, "Other assets" 10%/20% depending on other gross income |
| 2016/2017 | "Housing assets" 18%/28% depending on other gross income, "Other assets" 10%/20% depending on other gross income |
| 2015/2016 | 18%/28% depending on other gross income |
| 2014/2015 | 18%/28% depending on other gross income |
| 2013/2014 | 18%/28% depending on other gross income |
| 2012/2013 | 18%/28% depending on other gross income |
| 2011/2012 | 18%/28% depending on other gross income |
| 2010/2011 | before 06/23/2010 (18%), after 06/23/2010 (18%/28% depending on other gross income) |
| 2009/2010 | Flat rate of 18% |
| 2008/2009 | Flat rate of 18% |
Capital gains tax on real estate
You are not usually subject to capital gains tax, as the most common ways of disposing of assets are your primary residence and your private car. However, if you sell or dispose of land or real estate that is not your primary residence, you will need to consider capital gains tax.
If you sell your primary residence, you are entitled to the full private residence exemption for that property. However, certain restrictions apply, e.g. B. If you have a yard/lot larger than a football field, use part of your home for business, lease part of your home, or if the home was bought to "flip" (profit from a quick Sale).
Typically for most people at CGT we are looking for a property that you have bought as an investment eg.
After you enter the purchase price and disposal proceeds, you can further reduce potential profit by reporting the reimbursable costs associated with the property.
Certain funds that you spent in the buying/selling process to make improvements can be deducted as "Other costs":
- Appraisals, legal fees, real estate agents and marketing.
- Any improvements that increase the value of the property (e.g. additions), not relocating, painting, decorating and repairing.
- Tax on documented legal acts and VAT (unless you can get a VAT refund).
Our calculator will give you an indication of how much your property tax will be before any tax relief is taken into account. We've covered the private residence tax break, but there are other tax breaks to consider:
- Relief for entrepreneurs - Applies if the assets sold are business assets.
- Gift Withholding Relief: Giving away a business asset.
- Business Asset Transfer Ease: Sell a business asset and reinvest the amount in other business assets, effectively deferring taxes while the assets are depreciated during use.
Capital gains tax on stocks
Investments subject to capital gains tax are typically:
- Stocks and shares in a company
- Shares in an investment fund
- Debt, bonds and some securities – (investments/loans to a company or government)
Calculating stock gains or losses is similar to ownership where the stock sold is bought at the same price/time. Selling price minus purchase price and other costs.
If you bought 1,000 shares for £500 in January 2005 and another 1,000 shares for £200 in December 2007, and then sold 1,250 shares for £3,000 in May 2009, the calculation is a bit more complicated. You must follow some special rules because you have a Section 104 interest. Our calculator does not calculate the cost of the 1250 shares you are selling. This is spread out and must be calculated manually before entering the purchase price.
Stocks that depreciate in value while owned may have a "marginal value claim" against them, and then in the course of disposal you treat the "marginal value" as if you had sold them. It can help you lower your tax bill as the loss can be offset by other gains.
Other income: You must enter any other taxable income that you had during the tax year. Most likely income from employment/self-employment/pension. You only need to enter the “TAXABLE” amount here. We haven't included the questions here, but you can get the taxable income figure from ourtax calculator, which allows you to calculate your income tax whether you work for someone else or as a self-employed person.
Asset Name: You must enter an asset name as the calculator creates a complete breakdown of your capital gains liability and describes each asset by name. Select an asset type, e.g. Residential for any property not subject to the private residence relief, or Other for assets such as stocks.
Disposal Date - Enter the date the asset was sold, gifted, bartered, or otherwise disposed of.
Proceeds of Disposal: These are generally the amounts received from the disposal of the asset.
Purchase Price: The amount you paid for the asset when you acquired it.
Other Costs: The amount used to acquire, dispose of, and improve the asset, or other allowable deductions.
Carryover Losses: Use carryover losses from previous tax years to reduce your profits this tax year.