TaxBullUK capital gains tax

Capital Gains Tax rates and allowances

The annual exempt amount and the two rates, one row per tax year, with the source each figure was read from.

Two figures decide most of a Capital Gains Tax bill. The annual exempt amount is the gain you can make in a year before anything is due, and it comes off the total gain before the rate is applied. The rate then depends on your income: the part of a gain that still fits inside your basic rate band is charged at the lower rate and the rest at the higher one.

These are the figures the calculator on this site applies. It reads the same table this page prints, so a year on this page cannot quietly differ from the figure in a report.

The figures go on the capital gains summary pages of a Self Assessment return. The exempt amount is claimed once for the year and is not transferable, and an unused part of it cannot be carried forward.

Every year held

Annual exempt amount and rates on gains other than residential property and carried interest. The basic rate band is the income tax basic rate limit, which is what decides how much of a gain takes the lower rate.
Tax year Annual exempt amount Rate within the basic rate band Rate above it Basic rate band Where the figure comes from
2026/27 £3,000 18% 24% £37,700 Annual exempt amount £3,000, rates 18% and 24%. This is the gov.uk Capital Gains Tax rates and allowances page, not a Budget document. Basic rate limit £37,700.
2025/26 £3,000 18% 24% £37,700 Annual exempt amount £3,000, rates 18% and 24% for the whole year. This is the gov.uk Capital Gains Tax rates and allowances page, not a Budget document. Basic rate limit £37,700.
2024/25 £3,000 10%then 18% from 30 October 2024 20%then 24% from 30 October 2024 £37,700 Annual exempt amount £3,000, the second reduction announced at the Autumn Statement of 17 November 2022; and the rates moved from 10% and 20% to 18% and 24% for disposals made on or after 30 October 2024, the day of the Autumn Budget 2024. This is the gov.uk Capital Gains Tax rates and allowances page, not the Budget document. Basic rate limit £37,700.
2023/24 £6,000 10% 20% £37,700 Annual exempt amount cut to £6,000, the first of the two reductions announced at the Autumn Statement of 17 November 2022. This is the gov.uk Capital Gains Tax rates and allowances page, not the Statement. Rates 10% and 20%. Basic rate limit £37,700.
2022/23 £12,300 10% 20% £37,700 Annual exempt amount still £12,300 under the same freeze. This is the gov.uk Capital Gains Tax rates and allowances page, not a Budget document. Rates 10% and 20%. Basic rate limit £37,700.
2021/22 £12,300 10% 20% £37,700 Annual exempt amount held at £12,300 by the Budget of 3 March 2021, which froze it to 2025/26. This is the gov.uk Capital Gains Tax rates and allowances page, not the Budget document. Rates 10% and 20%. Basic rate limit £37,700.
2020/21 £12,300 10% 20% £37,500 Annual exempt amount £12,300, set by article 2 of the Capital Gains Tax (Annual Exempt Amount) Order 2020 (SI 2020/333). Rates 10% and 20%. Basic rate limit £37,500.
2019/20 £12,000 10% 20% £37,500 Annual exempt amount £12,000, the figure in TCGA 1992 s1K(2) as substituted by FA 2019; the explanatory note to the 2020 Order states it in terms ("The AEA for 2019-20 was £12,000"). Rates 10% and 20%. Basic rate limit £37,500.
2018/19 £11,700 10% 20% £34,500 Annual exempt amount £11,700, set by article 2 of the Capital Gains Tax (Annual Exempt Amount) Order 2018 (SI 2018/244). Rates were 10% and 20% on non-residential gains. Basic rate limit £34,500.

A year outside this table is not guessed at. The calculator refuses it, says so, and charges no exempt amount rather than borrowing one from another year.

The year the rates moved

The rates changed on the day of the Autumn Budget 2024. A disposal made on or before 29 October 2024 takes the old pair and one made on or after 30 October 2024 takes the new pair, so 2024/25 has two of everything and the date of each disposal decides which applies.

Every row here carries the source the figure was read from. A row that carries none is not printed, and a short line says which year was left out instead. That is deliberate. A rate with nothing behind it is the one most likely to be wrong and the hardest for a reader to check.

The other rate tables

Income tax allowances and limitsThe personal allowance, the higher rate limit and the savings allowances, year by year. Dividend tax rates and allowanceThe dividend allowance and the ordinary, upper and additional rates. Take home pay rates and thresholdsIncome tax bands for the rest of the UK and for Scotland, National Insurance and student loans. Stamp duty rates and bandsSDLT, LBTT and LTT, one row per dated schedule, with the statute that set it.

All rates and allowances

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