We have just added a new calculator to help you calculate your Capital Gains Tax liabilities.
All you need to do is select the tax year, enter your other taxable income for the year and then start adding the assets you disposed of. All assets need to be within the same tax year as the one you select. You can add as many assets as you wish.
If you have a loss to carry over from a previous tax year you can enter that also.
By entering your disposal date, disposal proceeds, purchase price and other costs, the calculator will create a table detailing the gains or losses for each asset and then calculate your overall capital gains liability.
It's pretty straightforward and will give you a good indication to what your property or shares sales will likely cost you in capital gains tax. To really reduce your tax bill however, you need to start looking into the various tax reliefs that are available to you and start chipping away.
Our Capital Gains Tax Calculator
is free to use, so give it a try.
Remember, TaxPenny are available to complete your Tax Returns and we start at only £75 + vat. Get a quote and see how we can help you.