Changes to Capital Gains Tax for 2019/20

 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.

 

 

Blog post uploaded 3 Apr 2019