What does the cost of an asset mean in the United Kingdom?
HMRC says Capital Gains Tax is a tax on the profit when you sell, or dispose of, something that has increased in value. It is the gain that is taxed, not the amount of money you receive. Example only. In the HMRC example, a painting bought for £5,000 and later sold for £25,000 has a gain of £20,000. That is not your sale. This page does not work out your tax.
Money
Plain answers to everyday money questions, with official links. Not advice.
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