UK Capital Gains Tax Calculator
Calculate the capital gains tax you may owe on your profits with our easy-to-use UK Capital Gains Tax Calculator. Simply select your tax year from the dropdown menu, enter your details, and get an estimate of your tax liability based on your taxable income.
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How much tax is payable?
Disclaimer: This calculator provides estimates and does not account for all possible tax scenarios. Please consult a qualified tax professional for personalised advice.
How our crypto tax calculator works
The capital gains calculator above provides an estimate of the capital gains tax payable based on your capital gains and taxable income. For assistance in calculating your crypto capital gains, use Recap's crypto tax calculator. Simply sign up, connect your accounts, and verify your transactions. Recap will automatically calculate your crypto taxes, giving you a detailed report that you can download as a PDF when you're ready to file.
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FAQs
- What is the capital gains tax calculator?
The capital gains tax calculator above helps you estimate the capital gains tax you may owe based on your capital gains and taxable income.
- What is capital gains tax (CGT)?
Capital Gains Tax is a tax on the profit (or gain) you make when you sell or dispose of an asset, such as property, shares, or cryptocurrency. You only pay CGT on the profit above your annual tax-free allowance. Take a look at our blog about capital gains tax on crypto for more information.
- How is capital gains tax calculated?
Capital gains tax is calculated by taking the selling price of the asset, subtracting the purchase price, and then accounting for any allowable costs or reliefs. The resulting profit is your capital gain. You can use our crypto tax calculator tool to work out the gain on a cryptocurrency trade.
- What is the annual tax-free allowance for capital gains tax in the UK?
For the tax year 2023/2024, the annual exempt amount is £6,000 for 2024/2025 it is £3,000. This means you won't pay Capital Gains Tax on the first £6,000 or £3,000 of your total gains. Check our UK tax rates article for more detail.
- What assets are subject to capital gains tax in the UK?
Capital gains tax applies to various assets, including property (like second homes and rental properties), stocks and shares, cryptoassets and valuable items such as antiques and collectibles. Always refer to HMRC guidelines or consult a tax professional for specific situations.
- Do I have to pay capital gains tax on cryptocurrency?
Yes, cryptocurrency is treated as an asset for tax purposes in the UK. If you sell or dispose of crypto and make a gain above the annual exempt amount, you may be liable to pay capital gains tax. Check out our UK crypto tax guide to find out how HMRC tax rules apply.
- When do I need to report capital gains tax?
You need to report and pay any capital gains tax owed by January 31 following the end of the tax year in which you made the gain. This is typically done through your Self Assessment tax return.
- Are there any reliefs available to reduce capital gains tax?
Yes, there are several reliefs for capital gains; each has specific conditions, so it’s essential to check if you qualify.
- Can losses be used to offset capital gains?
Yes, you can offset capital gains with capital losses in the same tax year, which can help reduce your overall tax liability. If your losses exceed your gains, you can carry forward the unused losses to future tax years without any limit, but you must claim them within four years of the loss year. Note, you cannot roll forward your annual exemption allowance.