Not every profit you make is taxable, but far more assets fall inside the net than most people expect when they look at what assets are subject to Capital Gains Tax. If you are asking what assets are subject to Capital Gains Tax in the UK, the short answer is: most things of value that you own personally and dispose of at a profit, unless a specific exemption applies.
This guide sets out exactly what assets are subject to Capital Gains Tax, which are chargeable, which are exempt, and the grey areas that catch people out, so you know before you sell whether Capital Gains Tax applies to you.
What Counts as a “Chargeable Asset” for Capital Gains Tax?
A chargeable asset is anything you own that could produce a taxable gain when you dispose of it. Disposal is not limited to a straightforward sale, it also includes gifting an asset (other than to a spouse or civil partner), swapping it for something else, or receiving compensation such as an insurance payout when it is lost or destroyed.
Whether an asset is chargeable depends on three things: what type of asset it is, how much profit you made, and whether a specific exemption applies. The Annual Exempt Amount for 2026/27 is £3,000 for individuals, so the first £3,000 of total gains in a tax year is always tax-free regardless of the asset type.
What Assets Are Subject to Capital Gains Tax: Full List
The list of assets subject to Capital Gains Tax is broad. The most common categories are set out below.
- Residential and Investment Property
Any property that is not your main home is potentially chargeable, including buy-to-let properties, second homes, holiday homes, and land purchased for investment. Gains from UK residential property must be reported and paid within 60 days of completion.
- Shares, Funds and Other Investments
Shares, unit trusts, investment funds, and bonds held outside an ISA or pension wrapper are all subject to Capital Gains Tax when sold at a profit. This applies whether the shares are in a UK company or listed overseas.
- Business Assets
Goodwill, premises, and other assets sold as part of a business disposal are chargeable, although reliefs such as Business Asset Disposal Relief can reduce the rate payable on qualifying gains.
- Personal Possessions Worth £6,000 or More
Valuable personal possessions, sometimes called “chattels”, are chargeable if you sell them for more than £6,000. Common examples include jewellery, art, antiques, and collectable items. Sets of items (such as a pair of vases) are usually treated as a single asset for this £6,000 threshold.
- Cryptoassets
HMRC treats cryptocurrency, including Bitcoin and other tokens, as property for tax purposes, as set out in its official cryptoassets guidance. Individual disposals such as selling, swapping, or spending crypto are generally subject to Capital Gains Tax in the same way as shares.
- Overseas Assets
UK residents are generally taxed on gains from overseas assets too, such as a holiday home abroad or foreign shares, although double taxation relief may apply if tax has already been paid in the other country.
Assets That Are Exempt From Capital Gains Tax
Just as important as knowing what is chargeable is knowing what is not. The following assets are generally exempt:
- Your main home: Private Residence Relief usually removes the gain entirely if the property has been your only or main residence throughout ownership.
- Private cars: Motor vehicles designed to carry passengers are exempt, even valuable classic cars, though this does not extend to taxis, vans, or commercial vehicles.
- ISAs and pensions: Gains made within an ISA or a registered pension scheme are entirely free of Capital Gains Tax.
- UK government gilts and most corporate bonds: These are exempt from Capital Gains Tax regardless of the profit made.
- Personal possessions worth less than £6,000: Chattels sold for £6,000 or less fall outside the charge.
- Gifts to your spouse, civil partner, or a UK charity: These transfers take place on a no gain, no loss basis for CGT purposes.
- Betting, lottery, and gambling winnings: These are not treated as chargeable gains.
- Royal Mint bullion coins: Legal tender coins such as Britannias and Sovereigns are exempt because they are treated as UK currency.
Grey Areas That Often Catch People Out
- A Home You Have Let Out
If you have rented out all or part of your main home at any point, only the portion of the gain relating to your period of genuine occupation (plus certain final period exemptions) qualifies for Private Residence Relief. The remainder can be subject to Capital Gains Tax.
- Inherited Assets
Assets you inherit are not subject to Capital Gains Tax at the point of inheritance, but if you later sell them for more than their probate value, that increase in value is chargeable. Our guide on how capital gains are calculated on inherited property explains this in more detail.
- Assets Used Partly for Business
Where an asset, such as part of a home, has been used for business purposes, the business-use proportion may not qualify for the same exemptions as a purely private asset.
How Much Tax You Pay Once You Know What Assets Are Subject to Capital Gains Tax
Once you have established that an asset is subject to Capital Gains Tax, the amount you owe depends on your income and the size of the gain. For 2026/27, individuals pay 18% or 24% on gains above the £3,000 Annual Exempt Amount, depending on how much of their basic rate band is available. Trustees and personal representatives pay a flat 24% rate. Our full breakdown in capital gains tax rates for 2026/27 covers how these rates are applied step by step.
How to Check What Assets Are Subject to Capital Gains Tax Before You Sell
Before completing any disposal, it is worth running through a short checklist to confirm whether Capital Gains Tax applies. First, identify what the asset actually is and whether it falls into one of the exempt categories listed above. Second, work out how much profit you have made by deducting your original cost, any allowable improvements, and selling costs from the sale proceeds. Third, check whether any reliefs apply, such as Private Residence Relief for a main home or Business Asset Disposal Relief for a qualifying business sale.
If, after this process, you conclude that the asset is chargeable, you then need to establish the correct reporting route. UK residential property gains must be reported and paid within 60 days of completion, while most other chargeable assets are reported through your annual Self Assessment tax return by the 31 January deadline following the end of the tax year.
Record Keeping for Chargeable Assets
Whichever category an asset falls into, keep records of the purchase price, purchase date, any improvement costs, and the eventual sale details. HMRC can ask for evidence of these figures for several years after a disposal, and good records make it far easier to confirm exactly what assets are subject to Capital Gains Tax and calculate the gain accurately when the time comes to sell.
How Capital Gains Tax Experts Can Help
At Capital Gains Tax Experts, we help clients identify exactly what assets are subject to Capital Gains Tax before they sell, so there are no surprises when the tax bill arrives. Whether you are disposing of a property portfolio, a share portfolio, or a valuable collection, our team can confirm the correct tax treatment and structure the disposal as efficiently as possible. See our guide on how Capital Gains Tax is calculated in the UK for the full step-by-step process.
Frequently Asked Questions: What Assets Are Subject to Capital Gains Tax
What assets are exempt from Capital Gains Tax in the UK?
Your main home, private cars, ISAs and pensions, UK gilts, personal possessions worth £6,000 or less, gifts to a spouse or UK charity, gambling winnings, and Royal Mint bullion coins are all exempt from Capital Gains Tax.
What assets are excluded from Capital Gains Tax?
Assets excluded from Capital Gains Tax include cash held in bank accounts, UK government gilts, most corporate bonds, betting and lottery winnings, and assets held within an ISA or pension wrapper.
What assets qualify for Capital Gains Tax?
Assets that qualify (meaning they are chargeable) include residential and investment property that is not your main home, shares and funds held outside an ISA, business assets, personal possessions worth more than £6,000, and cryptoassets.
Which assets are not liable to Capital Gains Tax?
Assets not liable to Capital Gains Tax include your main home (provided Private Residence Relief applies in full), private motor cars, ISA and pension holdings, and personal possessions worth £6,000 or less.
Do I have to pay Capital Gains Tax on everything I sell?
No. You only pay Capital Gains Tax on chargeable assets once your total gains for the tax year exceed the £3,000 Annual Exempt Amount, and only if the specific asset does not fall into one of the exempt categories such as your main home, private car, or ISA holdings.
Know Before You Sell
Understanding what assets are subject to Capital Gains Tax before you dispose of them gives you the chance to plan ahead, use available reliefs, and avoid an unexpected bill. If you are unsure whether a specific asset you own is chargeable, speak to our team before you complete the sale.
