What Is The Long Term Capital Gains Tax 2024 Uk

What Is The Long Term Capital Gains Tax 2024 Uk. Capital gains tax on shares is charged at 10% or 20%, depending on your income tax band. In short, the uk budget 2024 introduces significant reforms to capital gains tax, particularly focusing on residential properties.

Last tax year (2023/2024) the cgt allowance was £6,000 but it has been cut to £3,000 this tax year (2024/2025). With speculation swirling that capital gains tax could be set to rise in the 2024 autumn budget, investing for the long term could help minimise the impact of potential higher tax.