Built environment industry responses to the Spring Statement 2025
Following the publication of the Spring Statement on 26 March 2025, several built environment industry bodies have released their responses.
Capital Gains Tax (‘CGT’) is a tax on the profit or gain made when selling or otherwise ‘disposing of’ an asset. An asset is usually disposed of when the owner ceases to own it—eg they sell it, give it away as a gift, transfer it to someone else or exchange it for something else.
In some cases the owner is treated as if they have disposed of an asset eg a building is destroyed and a capital sum received from the insurers by way of compensation.
It is the gain made—not the amount of money received for the asset—that is taxed.
For information on rates of CGT, see Practice Notes: Introductory guide to CGT and Capital gains tax (CGT)—how to calculate a capital gain.
When property such as a building, land or lease is sold or otherwise disposed of CGT may be payable.
Typical types of property include:
an investment property (eg a buy-to-let property)
a second home (eg a holiday home in the UK or overseas)
business premises (eg a shop
To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.