Capital Gains Tax (CGT)
Some assets such as private cars are exempt from CGT. So no CGT to pay even though selling at profit
Non-residential assets, for example commercial properties, pay CGT at 10% or 20%
Residential assets, for instance, buy to let properties, pay tax at 18% or 28%
Annual Exempt Amount (AEA)
AEA is a tax-free amount for everyone and currently is £12,300 per annum
If you meet certain conditions, then reliefs such as Business Asset Disposal Relief is available to reduce your capital gains tax.
Exempt transfer is either transfers between spouses/civil partners or to charities or both