Capital Gains Tax
| Capital Gains Tax: Individuals and Trustees | 2024-25 | 2023-24 |
| Annual exempt amount | ||
| Individuals | £3,000 | £6,000 |
| Trusts | £1,500 | £3,000 |
| Rates | ||
| Standard rate taxpayers | 10% | 10% |
| Higher rate taxpayers / Trustees | 20% | 20% |
| Business Asset Disposal Relief Rate lifetime limit | £1,000,000 | £1,000,000 |
| Business Asset Disposal Relief Rate | 10% | 10% |
| Investors’ relief lifetime limit | £10,000,000 | £10,000,000 |
| Investors’ relief rate | 10% | 10% |
* A higher rate of CGT on residential property gains applies at the rate of 24% (2023-24: 28%) for higher rate taxpayers as well as for trustees and personal representatives. There is a lower rate of 18% (2023-24: 18%) for basic rate taxpayers.
The 18% and 28% rates of CGT that have historically applied to gains in respect of carried interest (the share of profits or gains that is paid to asset managers) remain unchanged in the current tax year.
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