Capital Gains Tax Allowance 2024/5. The cgt annual exempt amount is to be cut to £6,000 from april 2023, and then cut again the following year to just £3,000. The act provides for a number of measures announced at the spring budget 2024, including a reduction in the higher rate of cgt for gains on residential property.
The simplest way to avoid capital gains tax is to regularly use your capital gains tax allowance (officially known as your annual exempt amount or. This is a significant drop from previous years ;