Capital Gains Tax 2024 Uk Government

Capital Gains Tax 2024 Uk Government. With labour pledging not to fiddle with income tax or national insurance rates, it's possible the autumn budget will include changes to capital. For the 2022/23 tax year, the rates for capital gains tax on residential property are 18% for basic rate taxpayers.

Even if cgt and income tax rates are not equalised, cgt could be revamped after the election, so now may be the time to think about protecting against possible future changes. The capital gains tax rates 2024 changes will materially impact net gains when divesting property assets, especially for higher earners.