If you have made huge profits on selling your or property (with the exception of the home you live in) you may have to pay capital gains tax. For full details of how the capital gains tax system works see our guide.
CAPITAL GAINS TAX RATES 2012/13 2013/14 The rate you pay will depend on your taxable income. * Estimate based on planned 1% increase ANNUAL EXEMPTIONS Individuals £10,600 £11,000* Main home unlimited unlimited