Not every gain you make will be taxable, nor will every loss be allowed by the Revenue. Gains made purely because of inflation between 6 April 1982 and 5 April 1998 are not taxable - this is allowed for by giving you an indexation allowance to deduct from your gain. Gains after 5 April 1998 qualify for taper relief instead. There is no capital gains tax to pay when you die. Gifts between a husband and wife are not taxable at the time - instead any tax is deferred until the recipient disposes of it, when tax is worked out on the gain over the period both husband and wife owned it.
Some assets qualify for special treatment.
Fuller information is given in the Inland Revenue's notes on Capital Gains Tax which accompany the capital gains tax pages of the tax return - these are available on TaxCalc's Help menu. TaxCalc will carry out the whole of the calculation, for straightforward disposals, and will then work out the amount of tax you owe. In general, only gains or losses since 31 March 1982 are taken into account, and some gains are tax-free altogether. If the gain is not tax-free, the taxable amount is based on the increase in the value of the asset during the time you owned it. The figures for the disposal proceeds and initial value are generally based on the price paid for the asset, or its market value if it was given or inherited, but there are special rules for assets owned on 31 March 1982.