Capital Gains Tax 2024 Uk Property. Learn how to calculate your cgt bill. Capital gains tax is paid on the profits made when people sell valuable assets such as second homes, stocks and shares, stakes in a business or valuable possessions like jewellery and art.

The government has previously announced that the cgt annual exempt amount will reduce from £6,000 to £3,000 from april 2024. In their march 2024 economic and fiscal outlook (efo), the obr estimate that the cut in capital gains tax payable on residential property gains increases property transactions.