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Join UsCall UsCapital Gains Tax is charged on the profit made when assets such as property, shares, or other investments are sold or disposed of for more than their original cost.
Each individual has an annual exempt amount, and gains above this are taxed at different rates depending on the type of asset and the individual’s Income Tax band.
Some disposals are exempt from Capital Gains Tax, including gains on a main home in most cases and transfers between spouses or civil partners.
| Tax rates | 2023/2024 | 2024/2025 | 2025/2026 | 2026/2027 |
|---|---|---|---|---|
| Individuals up to the income tax basic rate limit for gains on residential property and carried interest | 18% | 18% | 18% | 18% |
| Individuals above the income tax basic rate limit for gains on residential property | 28% | 24% | 24% | 24% |
| Individuals above the income tax basic rate limit for gains on carried interest | 28% | 28% | 32% | N/A (2) |
| Trust and personal representatives for gains on residential property | 28% | 24% | 24% | N/A (2) |
| Individuals up to the income tax basic rate limit for gains on other assets (1) | 10% | 10%/18% | 18% | 18% |
| Individuals above the income tax basic rate limit for gains on other assets (1) | 20% | 20%/24% | 24% | 24% |
| Trust and personal representatives for gains on other assets (1) | 20% | 20%/24% | 24% | 24% |
1. Rates changed as of 20 October 2024.
2. Carried interest is subject to income tax for 2026/27 onwards.
| 2023/2024 | 2024/2025 | 2025/2026 | 2026/2027 | |
|---|---|---|---|---|
| Annual exempt amount for individuals (1), personal representatives (2) and some trustees (3, 6) | £6,000 | £3,000 | £3,000 | £3,000 |
| Annual exempt amount for most trustees (4, 6) | £3,000 | £1,500 | £1,500 | £1,500 |
| Chattels exemptions: proceeds up to (5) | £6,000 | £6,000 | £6,000 | £6,000 |
[1] An individual who claims to use the remittance basis for a tax year is not entitled to the capital gains tax annual exempt amount for that year. This does not apply if the individual's unremitted foreign income and gains for the year are less than £2,000.
[2] In the year of death and the following two years (maximum).
[3] Trusts for disabled persons as defined. Exemption divided by number of qualifying settlements created (after 9 March 1981) by one settlor, subject to a minimum of one-tenth.
[4] Exemption divided by number of qualifying settlements created (after 6 June 1978) by one settlor, subject to a minimum of one-fifth.
[5] For consideration over £6,000 the chargeable gain is limited to five-thirds of the excess over £6,000.
[6] Proceeds reporting limit is fixed at £50,000 from 2023/24.
| 2023/2024 | 2024/2025 (6 April 2024 to 29 Oct 2024) | 2024/2025 (30 Oct 2024 to 5 Apr 2025) | 2025/2026 | 2026/2027 | |
|---|---|---|---|---|---|
| Business asset disposal relief | |||||
| - Net gains on qualifying disposals charged at a rate of | 10% | 10% | 10% | 14% | 18% |
| - Lifetime limit | £1m | £1m | £1m | £1m | £1m |
| Investors' relief | |||||
| - Relevant gains charged at a rate of | 10% | 10% | 10% | 14% | 18% |
| - Lifetime limit | £10m | £10m | £1m | £1m | £1m |
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