Changes to Capital Gains Tax for 2019/20

Capital Gains Tax Blocks

 If you're looking to sell an asset that has increased in value since you bought it, your profit may be liable for capital gains tax.

 

The tax-free allowances for capital gains have increased to £12,000, or £6,000 for assets held in trust, for 2019/20.

 

Should the gain exceed either threshold when added to your income, and keep you in the basic-rate band, you will pay capital gains at 10% - or 20% if the gain takes you into the higher-rate band.

 

The rates differ if you are selling residential property which is not your principal private residence, at 18% in the basic-rate band and 28% above the basic-rate band.