Capital Gains Tax Rate 2024 Uk

Capital Gains Tax Rate 2024 Uk. In their march 2024 economic and fiscal outlook (efo), the obr estimate that the cut in capital gains tax payable on residential property gains increases property transactions. Capital gains tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value.

It’s the gain you make that’s taxed, not the amount of. Because the combined amount of £29,600 is less than £37,700 (the basic rate band for the 2024 to 2025 tax year), you pay capital gains tax at 10%.