Capital Gains for Individuals

You consider Capital Gains Tax (CGT) when you dispose of a chargeable asset and make a gain. A disposal is usually a sale, but can also be a gift (other than to a spouse/civil partner), a part-sale, or swapping one asset for another. Typical personal scenarios:

• Investments held outside ISAs: shares, funds/ETFs, investment trusts
• Cryptoassets (e.g., Bitcoin, Ethereum, etc)
• Second homes or a property you’ve never let (your main residence may qualify for relief)

You may need to file a Self Assessment return if your net gains exceed the annual CGT allowance, if your total disposals exceed HMRC’s reporting thresholds (even with small gains), or if you want to claim losses to carry forward. Personal UK residential property disposals can also trigger a separate property CGT report soon after completion (see our Deadlines Guide).

Filing early with Ftax confirms your position sooner and helps you plan cash flow.

Good records make CGT straightforward and help you avoid overpaying:

• Acquisition: date, price, and purchase costs (broker fees, stamp duty; for property, legal/professional fees)
• Disposal: date, proceeds, and selling costs (broker/agent fees, legal costs)
• Adjustments: corporate actions for shares/funds (splits, consolidations); for property, qualifying enhancement costs that add value (not routine repairs)
• Losses: computations for any realised losses (these can offset gains or be carried forward once claimed)
• Crypto: transaction history showing dates, quantities, prices and fees

For shares/funds and many tokens, HMRC’s pooling rules usually apply. Instead of tracking each lot separately, you maintain a pooled cost per holding; corporate actions adjust the pool.

Most personal gains are summarised on SA108 and filed online by 31 January following the end of the tax year; any CGT due is generally payable the same day (Payments on Account typically relate to income tax, not CGT).

UK residential property disposals (e.g., a second home you’ve never let) may also require a separate UK property CGT return and payment on account shortly after completion. That report is in addition to your year-end Self Assessment. If you’ve paid on account via the property return, it’s set against your final liability.