Capital Gains Allowance and Rates Tax Year 2024
(06/04/2024 to 05/04/2025)
Annual Exemption for Individuals £3,000.00
Rates of Capital Gains Tax CGT: Individuals - Chargeable gains are added to your taxable income.
Rates of Capital Gains Tax CGT: Individuals on UK Investment/Residential Property - Chargeable gains are added to your taxable income but are payable as a separate return and on different dates.
See CGT Rates and Dates: Capital Gains
Annual Exemption for Trusts - £1,500.00
This means a trust can realise adjusted gains each year to the value of the allowance with no liability to taxes. Normally the allowance is for all trusts created by the same person i.e. there is only one allowance for all trusts. The rate of tax charged on a trust is 20.00 %.
Annual Exemption - Businesses
Nil - there is no annual exemption, all gains are deemed as trading receipts and taxable at normal business or corporation tax rates.
Entrepreneurs Relief Rate for Business Assets.
CGT rate of 10.00 % of the chargeable gain is charged as a concession on the sale of trading businesses and shares with a cumulative lifetime allowance for the individual as follows:
Note: Capital Gains Tax for business disposals in excess of the above entrepreneurs relief limits is charged withing basic rate income tax bands at 10.00 % and 20.00 % for gains added to income in the higher rate tax bands.
Withdrawal of Tiered Rates and Taper Relief Before 5 April 2008:
Useful Links
None Residential Property Capital Gains Tax. Our Fees: CGT Non UK Property
Residential Property Capital Gains Tax. Our Fees: CGT UK Property
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