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Capital Gains Tax (CGT) is payable by individuals, trustees and 'personal representatives' (PRs). Companies pay corporation tax on their capital gains.
There are annual tax free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
For individuals net gains are added to 'total taxable income' to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income do not exceed the 'basic rate band'.
Gains which qualify for 'Investors' Relief' are charged at 14% (10% for 2024/25) for the first £10m of qualifying gains.
Gains which qualify for 'Business Asset Disposal Relief' are charged at 14% (10% for 2024/25) for the first £1 million.
Note...
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, the rates of 18% and 24% may have applied to the disposal of certain residential property throughout 2024/25.
23 May 2025
Experts have warned that recent higher than anticipated government borrowing figures have increased the prospect of Chancellor Rachel Reeves raising taxes at the next Budget.
22 May 2025
Chancellor Rachel Reeves has confirmed that the annual tax-free ISA allowance won't be reduced from £20,000.
21 May 2025
Inflation jumped to 3.5% in the year to April, up from 2.6% in March, according to the Office for National Statistics (ONS).
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