What is the Capital Gains Tax allowance for 2024/25?
Since 6th April 2024, the UK’s Capital Gains Tax allowance has been reduced from its previous rate. Read on to find out what changed — and what exactly this could mean for you and your investments.
Since 6th April 2024, the UK’s Capital Gains Tax allowance has been reduced from its previous rate. Read on to find out what changed — and what exactly this could mean for you and your investments.
Our Capital Gains Tax allowances have faced some significant drops in recent years. Previously standing at £12,300 per year, it was reduced by more than half in April 2023 to £6,000 — and decreased again in the 2024/25 tax year.
On top of this, the dividend allowance has also been reduced twice since 2022/23; meaning you might have to pay even more tax than you did in previous years.
These sorts of taxes are faced by many investors, which is why we want to ensure that our customers are kept in the loop with what they mean, and how these changes could impact them (or are already impacting them).
Your tax treatment will depend on your individual circumstances, and it may be subject to change in the future.