Easily calculate your short-term and long-term capital gains tax. Use this calculator to estimate taxes on assets, including stocks, crypto, real estate, and more.
A comprehensive guide to calculating capital gains tax in united kingdom. Follow these steps to estimate your tax obligations accurately.
In the United Kingdom, HMRC treats assets as taxable, meaning capital gains tax applies to profits from selling or disposing of assets. Here’s a comprehensive guide to calculating your capital gains tax obligations in 2024.
For 2024, the annual Capital Gains Tax (CGT) allowance is £6,000. If your total gains are below this threshold, no CGT is owed.
To calculate your capital gain:
In the UK, capital gains tax rates vary depending on your total income for the year:
Follow these steps for specific examples:
Scenario: You bought assets for £1,000 and sold them for £5,000 within the same tax year. Your total income is £40,000, and your capital gains exceed the £6,000 allowance.
Scenario: You bought assets for £2,000 and sold them for £10,000 within the same tax year. Your total income is £60,000.
After following the steps, the calculator will provide:
Find answers to common questions about calculating capital gains tax in united-kingdom.
Enter your acquisition and disposal details. The calculator accounts for the annual tax-free allowance (£6,000 for 2024) and applies the appropriate rates (10% or 20%) based on your income.
The annual tax-free allowance is the amount of capital gains you can earn before paying taxes. For 2024, it is £6,000.
Yes, you can input costs like legal fees or broker fees, and the calculator will subtract them from your gains to determine the taxable amount.
Yes, the calculator supports real estate sales. Enter your purchase and sale prices to calculate your taxable gain.
No, capital gains tax does not apply to personal use assets, such as cars or furniture, under UK tax law. The calculator is designed for taxable assets like stocks, real estate, and investments.
The calculator uses 10% for basic-rate taxpayers and 20% for higher-rate taxpayers for most assets, with 18% and 28% for residential property gains.