A tax on the profit when you sell an asset that’s increased in value, the tax also applies to an asset that you give away as a gift or exchange for something else. HMRC has made it mandatory to file and pay CGT upon disposal of any property in the UK within a certain time period. Any delays will lead to late filing or payment penalties.

You only need to pay CGT if you have profited more than the annual tax-free allowance. There are many other ways to reduce the CGT legally through reliefs and exemptions which we are happy to discuss with you.