Policy paper

Reducing the annual exempt amount for Capital Gains Tax

This tax information and impact note is about reducing the Capital Gains Tax annual exempt amount.

Documents

Details

This measure changes the Capital Gains Tax (CGT) annual exempt amount (AEA).

For the tax year 2023 to 2024 the AEA will be £6,000 for individuals and personal representatives, and £3,000 for most trustees.

For the tax year 2024 to 2025 and subsequent tax years the AEA will be permanently fixed at £3,000 for individuals and personal representatives, and £1,500 for most trustees.

The measure also fixes the CGT proceeds reporting limit at £50,000.

Published 21 November 2022