Capital taxes

Highlighting capital gains tax and inheritance tax.

Capital gains

The capital gains tax annual exempt amount will be reduced from £6,000 to £3,000 from April 2024.

Comment

It is estimated that around 570,000 individuals and trusts could be affected in 2024/25.

Inheritance tax

The inheritance tax nil-rate bands will stay fixed at their current levels until April 2028. The nil-rate band will continue at £325,000, the residence nil-rate band will continue at £175,000 and the residence nil-rate band taper will continue to start at £2 million.

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Edmund Carr, 146 New London Road, Chelmsford, Essex CM2 0AW.

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Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Registered with The Chartered Institute of Taxation as a firm of Chartered Tax Advisers.

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Edmund Carr is registered in England & Wales. Registered office address: 146 New London Road, Chelmsford, Essex CM2 0AW. Registered Company number: OC333955.