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There is no capital gains tax to pay if the gains are below the annual exemption. If the gains are below the annual exemption and the total sale proceeds are below twice the annual exemption, the capital gains pages on the tax return do not have to be completed.
The Revenue's notes state that the most common taxable assets are:
Stocks and shares;
Land and buildings; and
Business assets such as goodwill.
Exempt from CGT
A number of items are exempt from capital gains tax:
Motor cars
Principal private residence
Tangible movable property (chattels) sold for £6,000 or less
Most 'wasting assets'
Decorations for valour if not acquired by purchase
Betting, lottery, pools or premium bond winnings
Savings certificates or British savings bonds
Gains made within a PEP (Personal Equity Plan) or ISA (Individual Savings Account), bonuses from TESSAs or SAYE terminal bonuses.
UK Government stocks (gilts)
Foreign currency for the client's or family's personal use
Personal injury compensation
Life assurance gains or deferred annuity contracts realised by the original beneficial owner
Debts other than debts on a security
Compensation for mis-sold personal pensions taken out between 29/4/88 and 30/6/94
This is not a complete list but covers the most likely exempt assets.