Capital Gains Tax

by Sarah Laing
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Understand what capital gains tax (CGT) is and the rates that may currently be charged
  • Identify non-chargeable assets, transactions and popular exemptions
  • Examine the basic CGT computation and allowable costs and reliefs
  • Know how and when gains should be reported to HMRC, along with the associated deadlines and tax payment dates
  • Look at additional compliance and reporting, as well as HMRC’s strict penalty regime

This course has been revised and is up to date for 2020-21.

Capital gains tax (CGT) is a tax charged on the capital gain or profit, made on the disposal of any asset. At first glance, this sounds straightforward. However, there can be a minefield of complexities to navigate through, not to mention numerous compliance obligations to fulfil.

This course provides an overview of what CGT is, what rates can be charged, and when, as well as exemptions, computations and reliefs.

The course outlines the procedures behind CGT self-assessment, how to make sure you are compliant and the penalties issued if something goes wrong.


  • What is capital gains tax?
  • What is a chargeable gain?
  • Who is chargeable to CGT?
  • When is CGT charged?
  • Which assets are exempt from CGT?
  • What are the current CGT rates?
  • What are the main CGT tax-free allowances?

Charges and reliefs

  • How do you calculate capital gains tax?
  • What are the non-resident CGT charges?
  • What costs are deductible?
  • How can CGT losses be utilised?
  • What is main residence relief?
  • What is entrepreneurs' relief?

Self-assessment procedures

  • How are gains reported to HMRC?
  • How are assets valued for capital gains tax?
  • What are the filing dates and deadlines under the CGT regime?
  • How and when is CGT payable?

Compliance and penalties

  • What powers do HMRC have to encourage compliance?
  • What happens during an enquiry?
  • How are appeals made and dealt with?
  • What penalty charges can HMRC seek to impose?

Sarah Laing is a Chartered Tax Adviser. She has been writing professionally since 1998 when she joined CCH Editions as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences).

Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms, and now works as a freelance author providing technical writing services for the tax and accountancy profession.

ACCA logo

ACCA partner with to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.

    You need to sign in or register before you can add a contribution.