Capital Gains Tax | almfinancial

Capital Gains Tax (CGT)

Capital Gains Tax is payable on gains when certain assets are sold. This can occur upon the sale of a house, shares or investment products.

You will only be required to pay tax on a gain that exceeds the Annual Exempt Amount of £3,000 for individuals (£1,500 for trusts) in tax year 2026/27. If the gain is over the Annual Exempt Amount, the amount that falls within the basic Income Tax Band will be taxed at 18% (24% on higher gains). This rate applies to all assets.

Trustees/personal representatives will be a flat rate of 24%. Business Asset Disposal Relief (BADR) is 18% with an allowance of £1,000,000 lifetime limit.

You are able to reduce your gain by reporting a loss and you are able to carry forward losses into future years.

HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen

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