Capital gains tax

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Capital gains tax

This is a basic calculator designed to enable you to look at your liability to capital gains tax. If you are a higher rate or additional rate tax payer your gain will be taxed at 28%. For individuals where total income and gains are less than the upper limit of the income tax basic rate band the liability on the gain will be calculated at 18%. This calculator enables you to calculate an initial liability to capital gains tax, but does not take into account a situation where a portion of the gain is taxable at 18% and a portion at 28%.

Entrepreneurs’ relief

The rate of capital gains tax qualifying for entrepreneurs’ relief is 10%. The lifetime limit on gains qualifying for entrepreneurs’ relief is the rate effective from 6 April 2013.

Total gains subject to capital gains tax in 2013/14

Gain you consider qualifies for entrepreneurs' relief (£)
Gain you consider does not qualify for entrepreneurs' relief (£)
Higher rate tax payer?	No
	Yes



Results

Chargeable gain
Non-business assets
Chargeable gain
Business assets
Gross gain
Annual tax free amount
Taxable gain
CGT rates
Liability on entrepreneurs' gain	10%
Standard rate	18%
Higher rate	28%
Total CGT liability

The above result is, as indicated above, only a first check. If you have a liability we strongly recommend that you contact us. It is our role to ensure you minimise your tax liability.

In calculating the gain you may deduct certain costs. Please contact us to discuss your options for minimising your capital gains tax liability.

The capital gains tax in 2013/14 is payable on or before 31 January 2015.