Business Capital Gains Tax: What you pay it on You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) all or part of a business asset. Business assets you may need to pay tax on include: land and buildings fixtures
You pay a different rate of tax on gains from residential property than you do on other assets. You do not usually pay tax when you sell your home. If you pay higher rate Income Tax If you’re a higher or additional rate taxpayer you’ll pay: 28% on your gains
Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. It’s the gain you make that’s taxed, not the amount of money you receive. Example You bought a painting for £5,000 and sold it later for £25,000. This
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