Uk Capital Gains Tax Rates 2024/25. Capital gains tax may be applied if the value has risen since the person died, and the gain is above the allowance (now £3,000 per person for the 2024/25 tax year, but it was £6,000 for the 2023/24 tax year). Currently, the capital gains tax rate paid by higher rate income tax payers is 20% in most instances (24% for residential property, and 28% for carried interest).
It’s the gain you make that’s taxed, not the amount of money you. Up to basic rate band (£37,700):
If You’re Looking To Sell Assets This Year—Whether It’s Shares, A Piece Of Art, Or A Property—You’ll Need To Understand Capital Gains Tax (Cgt).
The rates payable on capital gains tax are 10% basic rate and 20% higher rate, but on residential property (other than your own home) the rates are 18% and 24% respectively for 2024/25.
Based On The Statement, Capital Gains Tax (Cgt) Exemptions Would Undergo A Reduction Starting In April 2023, Followed By Additional Decreases From April 2024.
Below that limit, the rate is 18%.
Uk Capital Gains Tax Rates 2024/25 Images References :
Cgt Is Only Applicable To Gains Exceeding £3,000, And You’ll Be Liable To Pay Tax On Gains When It Exceeds This Amount.
Jason hollands, managing director at investing platform bestinvest, said:
What Are The Tax Rates And Allowances For 2024/25.