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CGT Rate

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Mjmollo
Mjmollo Posts: 14 Forumite
Second Anniversary First Post
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!

Comments

  • uknick
    uknick Posts: 1,769 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The CGT rate is the rate on the day the contract is signed.
  • Nomunnofun1
    Nomunnofun1 Posts: 685 Forumite
    500 Posts Name Dropper
    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
    Mjmollo Posts: 14 Forumite
    Second Anniversary First Post
    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.
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