Capital gains tax in the United Kingdom
UK tax on the gains on capital assets by British individuals / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Capital gains tax in the United Kingdom?
Summarize this article for a 10 year old
Capital gains tax in the United Kingdom is a tax levied on capital gains, the profit realised on the sale of a non-inventory asset by an individual or trust in the United Kingdom. The most common capital gains are realised from the sale of shares, bonds, precious metals, real estate, and property, so the tax principally targets business owners, investors and employee share scheme participants.
This article needs additional citations for verification. (November 2020) |
In the UK, gains made by companies fall under the scope of corporation tax rather than capital gains tax. In 2017–18, total capital gains tax receipts were £8.3 billion from 265,000 individuals and £0.6 billion from trusts, on total gains of £58.9 billion.[1]
The current operation of the capital gains tax system is a recognised issue. The Conservative government consulted on the issue in 2020.[1]