In the UK, capital gains tax (CGT) exemptions and rates vary depending on the type of asset sold. For residential property, individuals can benefit from an annual tax-free allowance, known as the Annual Exempt Amount (£12,300 for the tax year 2023/24). Beyond this allowance, gains are typically taxed at rates of 18% for basic rate taxpayers and 24% for higher and additional rate taxpayers, although rates and exemptions can change with updates to tax laws and personal circumstances.

June 28, 2024

In the UK, capital gains tax (CGT) exemptions and rates vary depending on the type of asset sold. For residential property, individuals can benefit from an annual tax-free allowance, known as the Annual Exempt Amount (£12,300 for the tax year 2023/24). Beyond this allowance, gains are typically taxed at rates of 18% for basic rate taxpayers and 24% for higher and additional rate taxpayers, although rates and exemptions can change with updates to tax laws and personal circumstances.

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