• Taxation in the UK
• Tax advantages
• Who pays tax?
• I live outside the UK
• Fuel tax
• Value Added Tax
• Corporate tax
• Income tax
• National insurance tax
• Capital gains tax

This kind of tax is usually charged on profits after the sale of an assets such as shares or property that was bought at a lower price. Most of the countries levy capital gains tax or CGT in order to tax profits both for companies and individuals. Every company and individual resident in the United Kingdom is subject to the tax, regardless of nationality and company origin. The rate of the tax corresponds with the rate of corporate tax for companies and with the rate of income tax for individuals.

However, every individual has a capital gains tax exemption up to a certain amount of profit achieved in a financial year. The current rate of this tax allowance is £9,200, but it is a subject of change each year. Since 1998 invdividuals have the option the apply for a capital gains tax allowance in case of non-business assets depending on the period of ownership of that certain asset. Usually the allowance ranges up to 60% of the tax for the asset subject to the tax.

There are some exceptions from the capital gains tax such as primary private residences or private vehicles and some investments in case of young companies.