Capital Gains Tax Annual Exemption 2024/25

Capital Gains Tax Annual Exemption 2024/25. The administration period is the time it takes to settle the deceased person’s affairs, from the day after the death until the date everything has. The chancellor has confirmed that the capital gains tax (cgt) annual exempt amount will be reduced from £12,300 to £6,000 from 6 april 2023 and to £3,000 from 6 april 2024.

For the 2024 to 2025 tax year the allowance is £3,000, which leaves £9,600 to pay tax on. The annual exemption for 2023/24 is £6,000, however, as announced in the november 2022 budget it will reduce to £3,000 from 6 april 2024.