Capital Gains Tax (CGT) is payable on 'capital gains' when capital assets (a building, shares, a paintings) are disposed of’at a profit. The percentage of tax payable on a capital gain currently ranges between 10% and 28%,. By contrast, Income Tax (IT) can cost up to 60% of your profit.
It is sometimes possible to arrange your affairs to realise capital profits (subject to CGT) rather than income profits (subject to IT), and where that is the case you can benefit from significant tax savings.
In addition to lower tax rates there are also numerous reliefs and exemptions which can reduce the capital gain that is actually chargeable to tax.
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