Annual exempt amount: Each individual has a tax-free allowance for capital gains each tax year (e.g., £12,300 for 2024/25, but check current rates as they change).

Tax rates: Basic rate taxpayers pay 10% on gains from most assets, but 18% on residential property. Higher rate taxpayers pay 20% on most assets and 28% on residential property.

Entrepreneurs' Relief (now Business Asset Disposal Relief): Reduces the CGT rate to 10% on qualifying business disposals, with a lifetime limit of £1 million in gains.

Rollover relief: Allows you to defer CGT when you reinvest gains from business assets into new business assets, provided you meet HMRC conditions.

Gift hold-over relief: Lets you defer CGT when you gift business assets or shares in a trading company, with the recipient taking on the gain for future disposals.

Principal private residence relief: Exempts gains from selling your main home from CGT, but only if it has been your only or main residence throughout ownership.

Capital losses: You can offset capital losses against gains in the same tax year or carry them forward to future years, reducing your overall tax liability.

Reporting requirements: For most gains, you must report and pay CGT through Self Assessment, but for UK residential property, you must report and pay within 60 days of completion.

Inheritance and CGT: Assets inherited are generally revalued at the date of death, so CGT is only due on gains made after inheritance, not on the increase in value before.

International aspects: If you're a UK resident with overseas assets, or a non-UK resident with UK assets, special rules apply, and double tax treaties may affect your liability.