Gill Phedra

Capital Gains Tax 2024 Uk Income. Capital gains tax may be applied if the value has risen since the person died, and the gain is above the allowance (now £3,000 per person for the 2024/25 tax year,. A residential property in the uk on or after 6 april 2020;

10% (18% for residential property) for your entire capital gain if your overall annual income is below. Because the combined amount of £29,600 is less than £37,700 (the basic rate band for the 2024 to 2025 tax year), you pay capital gains tax at 10%.