CGT on Commercial Property | The Most Comprehensive Guide
Capital Gains Tax (CGT) is a levy applied on the profit made from the sale of an asset that has increased in value since its acquisition. When it comes to commercial property in the UK, CGT plays a crucial role in determining the tax liabilities of individuals, companies, and trusts that sell or dispose of these types of properties. This part will provide a detailed overview of how CGT applies to commercial properties, highlighting key principles, rates, allowances, and responsibilities for taxpayers.