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Not quite Giraffe... your "Capital Gains" are 40K, but your "Capital Gains Tax (CGT)" will be determined by other factors (ie. which tax bracket you are in etc). Capital gains tax is calculated by adding the gain to your taxable income and then they work out what rate to charge you tax at. Also...

I would say "it depends" ! Over the long term, cash in hand NOW is way better than an extra CGT hit IF you sell some time in the distant future. However, if you are buying to resell in the short term, then perhaps the extra CGT may not be worth it. Your accountant would be able to go...