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This is the tax you pay if you make a profit when disposing of a capital asset such as land, investments or property.

You can offset capital losses against capital gains when calculating your liability.

You may be liable to pay capital gains tax on the sale of your home if you claim the cost of running part of it as a business expense.

Capital Gains Tax
  6.4.10 - 22.6.10 2010/11 and 2009/10
Individuals £ £
Exemption 10,100 10,100
Balance of gains 18% 18%
Higher rate
-
28%
Trusts    
Exemption 5,050 5,050
Rate 18% 28%
Entrepreneurs' Relief
The first £5m (£2m for disposals on/after 6 April 2010 and before 23 June 2010) of qualifying gains are charged at an effective rate of 10%. Gains in excess of the limit are charged at the rates detailed above.