CGT Rate

Mjmollo

I’m aware that the rates of CGT increased with effect from 30 October 2024 following the autumn budget.

If I disposed of assets before 2024 that created a CGT liability, will I be taxed at the old rate (20%)?

I ask as I have liabilities both before and after the change, both of which are within the 2024/2025 tax year.

I’m trying to prepare for the tax bill!

eskbanker

https://www.gov.uk/capital-gains-tax/rates clarifies.

uknick

The CGT rate is the rate on the day the contract is signed.

[Deleted User]

Mjmollo said:

I’m aware that the rates of CGT increased with effect from 30 October 2024 following the autumn budget.

If I disposed of assets before 2024 that created a CGT liability, will I be taxed at the old rate (20%)?

I ask as I have liabilities both before and after the change, both of which are within the 2024/2025 tax year.

I’m trying to prepare for the tax bill!

You’re a higher rate taxpayer?

Mjmollo

[Deleted User] said:

Mjmollo said:

I’m aware that the rates of CGT increased with effect from 30 October 2024 following the autumn budget.

If I disposed of assets before 2024 that created a CGT liability, will I be taxed at the old rate (20%)?

I ask as I have liabilities both before and after the change, both of which are within the 2024/2025 tax year.

I’m trying to prepare for the tax bill!

You’re a higher rate taxpayer?

Yes, I am a higher rate taxpayer.