What triggers CGT?
Disposal of a chargeable asset.
What counts as a disposal?
Sale, gift, exchange, compensation, part-disposal.
What is a chargeable person?
Individuals, trustees, personal representatives.
How is a gain calculated?
Disposal proceeds – allowable costs.
What is the annual exempt amount for CGT
£3000
What assets are CGT-exempt?
ISAs, NS&I, premium bonds, cars.
Are gilts subject to CGT?
No.
What is private residence relief?
Exempts main home from CGT.
What is chattel exemption limit?
£6,000.
What are allowable disposal costs?
Legal fees, stamp duty, agent fees.
What are enhancement costs?
Capital improvements increasing asset value.
Can CGT losses be carried forward?
Yes, indefinitely.
When must CGT be reported for property sales?
Within HMRC deadlines.
What is matching rule for shares?
Same-day, 30-day, then section 104 pool.
Are transfers between spouses CGT-free?
Yes — no gain/no loss.
What is business asset disposal relief?
Reduced CGT rate on qualifying business disposals.
What is market value rule?
Used when disposal not at arm’s length.
Are cryptocurrency gains taxable?
Yes—subject to CGT.
How are trusts taxed for CGT?
Trustees pay higher CGT rates with reduced exemption.
What triggers CGT?
Disposal of a chargeable asset.
What counts as a disposal?
Sale, gift, exchange, compensation, part-disposal.
What is a chargeable person?
Individuals, trustees, personal representatives.
How is a gain calculated?
Disposal proceeds – allowable costs.
What is the annual exempt amount?
Tax-free CGT allowance.
