Uk Capital Gains Tax Allowance 2024/25. These changes aim to balance the tax burden among taxpayers, ensuring that those with higher gains contribute proportionately to the public coffers. This contractor capital gains guide will examine how much capital gains tax is and how to report cgt to the tax office.
However, if the individual already owns a property overseas, they will no longer be able to claim this relief. This gives individuals with a chargeable gain (profit) in the 24/25 tax year a £3,000 tax free limit before capital gains tax will be applicable.