Chris Thorpe looks at recent developments regarding capital gains tax.
These appear to be tumultuous times with respect to tax, with the Labour government having passed one Budget and with a Spring Statement on the way at the time of writing.
Capital gains tax (CGT) has been subject to numerous changes over the last few years; so where are we with it in early 2025?
CGT rates
There were some rumours prior to Autumn Budget 2024 that CGT would be aligned to income tax rates, but that did not come to pass.
The 10% basic rate CGT percentage was instead increased to 18%, with the standard rate being increased from 20% to 24%; this equates to the pre-existing rates for residential properties. Unusually, this rate change took immediate effect for disposals on or after 30 October 2024, resulting in two sets of rates in tax year 2024/25 (although
