Arguably one of the most important and generous reliefs from UK capital gains tax (CGT) is the exemption available for the disposal of an individual’s home. In straight forward cases where someone owns one property which they have always lived in for the whole period of their ownership any gain arising is completely exempt from a CGT charge. However modern life is never that simple.
Capital gains tax can apply on the disposal of assets, from a single item to a multi-million pound business. There are numerous relief opportunities available to manage liabilities, thus maximising the money in your pocket.