Capital Gains Tax Rates 2024/25

Capital Gains Tax Rates 2024/25.  — the government has already said that the gains tax capital yearly exempt limit would drop from £6,000 to £3,000. 10% (18% for residential property) for your entire capital gain if your overall annual income is below £50,270.

If the property had been mr mehta’s main residence throughout his ownership, prr would cover the entire gain, and no cgt would be due. Capital gains tax (cgt) is one of the least common taxes on income, and for many it won’t apply.