CG10245 - Capital Gains Tax: rates of tax 바카라 사이트� from 30 October 2024

Throughout this manual, all legislative references are to (바카라 사이트淭CGA92바카라 사이트�) unless otherwise stated.

There are three categories of person chargeable to Capital Gains Tax (CGT):

  • individuals
  • personal representatives
  • trustees

Companies

A company바카라 사이트檚 chargeable gains less allowable losses form part of its total profits for an accounting period and are charged to Corporation Tax, see听CG10247听补苍诲听CG40200. Exceptionally, a company may be charged to CGT when acting in a fiduciary capacity, see CG42030.

听

Individuals, personal representatives and trustees


30 October 2024 Onwards

Sections 1H to 1J

Net gains accruing in a year of assessment, after taking account of losses and the annual exempt amount (CG18000c), are charged to Capital Gains Tax at:

  1. 10 per cent if the gains qualify for Business Asset Disposal Relief (CG63950+) or Investors바카라 사이트� Relief (CG63500+). This rate will increase to 14 per cent from 6 April 2025 and then to 18 per cent from 6 April 2026.
  2. 28 per cent if the gains accrue on 바카라 사이트渃arried interest바카라 사이트� under .听 This rate will increase to 32 per cent from 6 April 2025.听Carried interest will then, from April 2026, be taxed as trading profits and form part of Self-Assessment.
  3. For individuals, other gains are charged at 18 per cent or at 24 per cent
  4. For personal representatives and trustees, other gains are charged at 24 per cent.

For the gains at item 3 above to the extent that the basic rate limit is not utilised by the individual바카라 사이트檚 income and by gains qualifying for Business Asset Disposal Relief and Investors바카라 사이트� Relief, the gain (or part) would be charged at the lower rate.

Further detail about the changes to the rates applying for Business Asset Disposal Relief and Investors바카라 사이트� Relief for disposals on or after 6 April 2025 can be found at CG63955 and CG63515.

Unused Income Tax reliefs and allowances cannot be set against the net gains.听

Gains accruing to a person in a tax year may be chargeable to Capital Gains Tax at different rates. Thus the tax effect of losses and the annual exempt amount set off against those gains can vary.听CG18000听补苍诲听CG21500+ explain that, subject to any rules which limit the gains from which losses may be deducted, losses and the annual exempt amount may be set against gains in the way that is most beneficial to the individual. See CG15801 for guidance on the circumstances where an unused trading loss can be set against capital gains.

More detail on the how the rates apply to individuals can be found at听CG21000+

The Self Assessment Tax Return for the 2024-25 tax year will not be able to correctly calculate the amount of CGT due where there is a disposal on or after 30 October 2024 which is charged at a different rate of CGT.听 In this year, customers will need to use the interactive calculator to compute the additional tax due and enter this amount in the adjustments box on the Capital Gains pages of their Return, see 바카라 사이트�Work out your capital gains tax adjustment for the 2024 to 2025 tax year바카라 사이트� for a link to the calculator.