Capital Gains Tax
Welcome to Capital Gains Tax (CGT) area
This area provides links to a lot of the material about CGT for individual taxpayers and trustees on the website.
The materials contained on this web site are provided for general information only - see terms. For advice on your particular circumstances, please contact your local tax office.
Contents
- Recent developments
- Introductory material
- Forms
- Leaflets about specific schemes
- Specialist material
- How to get help
- Comments
- Archived material
Recent developments
- Relief on disposal of a business ('entrepreneurs' relief')
- Reform Draft legislation (PDF 124K)
- Revised CGT TAAR Guidance (PDF 100K)
- Budget 2007 material
- Permanent Interest Bearing Shares (PIBS)
Change to the definition of Permanent Interest Bearing Shares (PIBS) for tax purposes. - Entrepreneurs Relief - Draft Legislation (PDF 109K)
Introductory material
Our leaflets tell you about the law as it is. Sometimes the Government announces plans to ask Parliament to change the law. Check the Recent developments section.
- HMRC CAR
Responsibility for Capital Gains Tax policy lies in HMRC Charity, Assets and Residence (CAR), a directorate of HMRC. More information on the business stream can be seen by following this link. - Capital Gains Tax - a quick guide
This Factsheet provides a brief overview of Capital Gains Tax for people who have not considered it before, to help them decide if they need to find out more. - An Introduction to Capital
Gains Tax (PDF 1.1MB)
This guidance is a good place to find out how CGT works. It summarises the rules for working out the tax and shows you the reliefs that are available, including sections (with examples) on taper relief. - How do I start
the calculation of my gains? (PDF 192K)
The working sheet on the last page of the notes to the capital gains pages of the self assessment return will help you to work out your gains. - Notes on Capital Gains Return 2006-07
(PDF 148K)
The notes help you fill in the tax return. - Notes on Capital Gains Return 2005-06 (PDF 265K)
- Notes on Capital Gains Return 2004-05 (PDF 165K)
- Helpsheets 2006-07
These provide more detail on specific subjects than you can find in CGT1. Helpsheets relate to the particular tax year in which you made a disposal - so check the date! - Helpsheets 2005-06
These provide more detail on specific subjects than you can find in CGT1. Helpsheets relate to the particular tax year in which you made a disposal - so check the date! - Helpsheets 2004-05
These provide more detail on specific subjects than you can find in CGT1. Helpsheets relate to the particular tax year in which you made a disposal - so check the date! - Rates and annual exempt amount
You can look up the rates for a particular tax year. - CGT indexation allowance
Indexation allowance is available for the period 1982 to April 1998. You can look up the index factors. - Have you disposed of some unquoted shares, or own unquoted shares that have lost their value, and need a post transaction valuation check? Shares Valuation: an introduction will help you to understand the process.
Forms
- Taxation of chargeable gains: use of form CG34 and
our post transaction valuation service
We have made clear in our guidance and on form CG34 that a post transaction valuation check may be made following a claim that an asset has become of negligible value. - Application for a post-transaction valuation check
- CG34
If you want us to check your Capital Gains Tax valuations, return the completed form(s) to your tax office together with the information and documents requested on the form. You can also attach any other information that will help us understand your valuations. There is more information in Appendix 1 of the leaflet CGT (PDF 1.1MB). - Example of capital gains pages for your SA return 2005-06 - to make a return you will need to request one from your tax office
Information about specific schemes
There are a number of incentive schemes that offer special reliefs against CGT. You can read about these in the scheme leaflets
- IR169: Venture Capital Trusts (VCTs)
This leaflet has now been withdrawn and replaced with online informationVenture Capital Trust (VCT) - Enterprise Investment Scheme Leaflet IR137
This leaflet has now been withdrawn and replaced with online information Enterprise Investment Scheme - ISAs and PEPs
Tax free savings accounts - IR2002 - Share Incentive Plans - a guide for employees (PDF 116K)
This leaflet has now been withdrawn and replaced with online information Share Incentive Plans - a guide for employees (RTF 82K) - IR2006 - Enterprise Management Incentives (EMI) - A Guide
This leaflet has now been withdrawn and replaced with online information Enterprise Management Incentives
Specialist material
The material in this section is aimed at professional tax practitioners. But individual taxpayers may find it helpful if you wish to look deeper than the helpsheets.
- Capital Gains Manual
The manual is the most detailed general guidance that HMRC publishes. - Monthly savings schemes this guidance explains how to calculate the chargeable gain or allowable loss that may arise for capital gains tax (CGT) purposes when you dispose of certain types of shares and units in a unit trust which you acquired through a monthly savings scheme.
- List of exempt gilt-edged securities
List of gilt-edged securities to which the exemption under Section 115 of the Taxation of Chargeable Gains Act 1992 applies. - Extra Statutory Concessions (ESC) (PDF 772K)
An ESC is a relaxation of the tax laws to give taxpayers a reduction in the amount of tax they need to pay. Concessions in the "D" series relate to CGT. - Statements of Practice (PDF 2.7MB)
Statements of Practice explain HMRC's interpretation of legislation and the way we apply the law in practice. Those in the "D" series relate to CGT. Later statements of practice do not contain letters in their reference number. (This document may take some time to open due to its size.) - Tribunal decisions
Reports of Special Commissioners' Decisions - Taxes Acts
The legislation - For Capital Gains Tax, the main legislation is in the Taxation of Chargeable Gains Act 1992, which can be found in Volume 4 of the Taxes Act - Recognised Stock Exchanges overseas
- HMRC statistics
Various statistical tables and information on CGT. - Investment clubs
Frequently asked questions (and answers to them) on the subject of investment clubs. - Negligible Value list
A list of shares or securities formerly quoted (largely) on the London Stock Exchange which have been officially declared of negligible value. - Trusts and Estates
General information about Trusts and Estates, including a link to CGT specific information.
How to get help
If you want help in understanding CGT or in filling in the CGT pages of your tax return, please contact your local tax office or HMRC Enquiry Centre for help.
Copies of most leaflets etc. may be printed from this site, or obtained in hard copy form by calling our Orderline Visit the Online Order Form to order stationery on-line.
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