When is Capital Gains Tax due?
The following tax facts should be viewed as an indication of the rates and allowances available and relate to the current tax year (2022/2023) unless stated otherwise. Tax law is notoriously complex and we cannot replicate every rule, nuance or exemption here. Therefore you should not make, or refrain from making, any decisions based on this information alone. If you are in any doubt as to the suitable course of action we recommend you seek tax advice. Remember tax rules can change and depend on your personal circumstances.
CGT is applied on any profits on an investment. This would only apply when an investment is 'realised' or sold, and if the capital gains for the tax year exceed your annual capital gains tax allowance. Every individual has an annual capital gains tax allowance of £12,300 (2020/21).