Calculation for an individual (or trust or estate) Sale proceeds xxxxxx Less: Costs of sale xxxxx Original cost of asset xxxxx Cost of improvements xxxxx Total costs xxxxxx _______ Gain: before loss relief xxxxxx Less: Losses brought forward (if any)/Current Year losses xxxxxx _______ Gain before annual exempt amount xxxxxx Annual exempt amount xxxxx _______ Taxable gain xxxxxx ====== Tax at appropriate rate xxxxx ===== Notes to the computation Original cost will be the amount spent on acquiring the asset plus improvements or, if the asset was owned at 31 March 1982, then the value at that date (including improvements to 31 March 1982) even