CGT on residential and other assets.
Annual exempt amount, residential vs other rates, basic vs higher rate band. Laid out band by band.
Capital Gains Tax due£10,664Taxable gain after annual exempt amount: £47,000
- Total gain£50,000.00
- Annual exempt amount (0%)£3,000£0.00
- Basic rate CGT (18%)£10,270£1,848.60
- Higher rate CGT (24%)£36,730£8,815.20
- Total Capital Gains TaxEffective rate: 21.3%£10,663.80
2024/25 annual exempt amount: £3,000 (down from £6,000 in 2023/24). Residential property rates from 30 Oct 2024: 18% basic / 24% higher. Other assets follow the same rates from 30 Oct 2024. Excludes Business Asset Disposal Relief (10% on first £1m of qualifying gains).
Personal allowance £12,570Higher-rate threshold £50,270Additional-rate threshold £125,140Dividend allowance £500NI primary threshold £12,570Class 1 NI 8% / 2%Pension annual allowance £60,000ISA allowance £20,000Capital Gains AEA £3,000VAT registration threshold £90,000Personal allowance £12,570Higher-rate threshold £50,270Additional-rate threshold £125,140Dividend allowance £500NI primary threshold £12,570Class 1 NI 8% / 2%Pension annual allowance £60,000ISA allowance £20,000Capital Gains AEA £3,000VAT registration threshold £90,000
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