Capital taxes

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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Farrars Limited (trading as Farrars Chartered Accountants), Unit 1, Rectory Place, 37 Old Parsonage Lane, Hoton, Loughborough, Leicestershire LE12 5SG
Farrars Limited (trading as Farrars Chartered Accountants), Landmark Business Centre, Tudor Square, West Bridgford, Nottingham NG2 6BT

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