Capital gains tax (CGT) is payable when you sell an asset that has increased in value since you bought it. The rate varies based on several factors, such as your income and size of gain. For residential property, it maybe 18% or 28% of the gain (not the total sale price).
Monthly Archives: December 2019
Permanent workers are usually paid via Pay As You Earn (PAYE). PAYE ensures that the employee’s income tax, national insurance, and student loan repayments have been deducted before the employee receiving their pay. However, self-employed individuals must pay to ensure that they have paid their taxes, national insurance contributions, and student loan repayments. If you are self-employed you must complete a self-assessment form to figure out what you owe and ensure that you have made payments before the deadline.