Capital gains tax calculator
Capital gains tax calculator
An indicative capital gains tax bill on the sale of a second home or buy-to-let in England, after buying and selling costs, capital improvements and the annual exempt amount.
Estimated capital gains tax
£72,480
23.8% of a £305,000 gain — £232,520 kept.
- Gain after costs
- £305,000
- Annual exempt amount
- −£3,000
- Taxable gain
- £302,000
- Taxed at 18%
- £0
- Taxed at 24%
- £302,000
Indicative only. This is not financial advice, a mortgage offer or a tax computation. Confirm the figures with a qualified broker, solicitor or tax adviser before you commit.
Questions we get asked
- Do I pay capital gains tax on my own home?
- Normally no. Private residence relief covers the home you have lived in throughout your ownership. Capital gains tax on residential property bites on second homes, buy-to-lets and properties that were let for part of the time you owned them.
- What rates apply to residential property?
- Gains on residential property are taxed at 18% to the extent they fall in your basic-rate band and 24% above it, after the annual exempt amount of £3,000. Your other income for the tax year decides how much of the gain sits in each band.
- What can I deduct from the gain?
- Purchase price, stamp duty paid on acquisition, legal and agency fees on both the purchase and the sale, and capital improvements such as an extension. Ordinary maintenance, decorating and mortgage interest are not deductible against the gain.
- When does the tax have to be paid?
- A UK residential property disposal must be reported and the tax paid within 60 days of completion, separately from your self-assessment return. Speak to an accountant before exchange, not after.