All You Need to Know About Capital Gains Tax on Property Transactions
Capital gains tax (CGT) is a tax levied on the profit or gain realized from the sale or disposal of a capital asset, such as property. In the United Kingdom, CGT is payable on the sale or disposal of a property that is not your main residence. Or on the sale or disposal of any other type of capital assets, such as shares or investments. The amount of CGT you will be required to pay. This will depend on your total taxable gains for the tax year. Your tax rate, and your available allowances and exemptions.