Capital Gains Tax For Trusts 2024/24

Capital Gains Tax For Trusts 2024/24. Where ‘business asset disposal relief’ (badr) applies, the rate of tax on the whole gain is 10%, subject to a £1m lifetime allowance. Cgt is only applicable to gains exceeding £3,000, and you’ll be liable to pay tax on gains when it exceeds this amount.

Any excess gains are taxed at 20%. The capital gains tax allowance for the 2023/24 tax year has decreased by more than 50% from its 2022/23 threshold of £12,300 to £6,000.