CG10242 - Capital Gains Tax: disposal of assets

TCGA92/S1

Capital Gains Tax is charged on disposals of assets. A disposal is an occasion when you sell an asset or give it away. Tax may also be charged if the legislation specifically provides for a transaction to be treated as if it were a disposal. Capital Gains Tax is not charged on disposals of liabilities. Note that in the TCGA92 and in this volume a gain is said to `accrue' when it is realised or is deemed to be realised: `accruing' does not mean a gradual build up over a period.