Capital gains tax generally only applies if you are resident in the UK. However, in certain circumstances you can also be liable if you sell an asset while non-UK resident for tax purposes. 

Purchased life annuities are financial products purchased with a capital sum. They are designed to provide a guaranteed annual sum – normally for life, but it could be for a shorter term. 

If you give an asset to someone, you may have to pay capital gains tax, as you are disposing of something. The rules depend partly on who you make the gift to. For this purpose, a gift includes selling something for less than its market value.

On this page, we discuss briefly what happens if you make a loss when you dispose of an asset, or if the asset is lost or destroyed.

On this page, we discuss some of the capital gains tax (CGT) consequences of selling assets other than your home, such as shares and personal belongings. 

If you rent out property, then you will usually have to report this to HMRC and pay tax on it. Here we explain how you can do this – which might vary depending on your level of rental income and your wider situation.