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CGT Rate
Mjmollo
Posts: 14
Forumite
in Cutting tax
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!
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!
0
Comments
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https://www.gov.uk/capital-gains-tax/rates clarifies.1
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The CGT rate is the rate on the day the contract is signed.1
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You’re a higher rate taxpayer?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!0 -
Yes, I am a higher rate taxpayer.[Deleted User] said:
You’re a higher rate taxpayer?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!0
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