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In general terms, a charge to capital gains tax arises when a chargeable person makes a chargeable disposal of a chargeable asset. The disposal may produce a profit (known as a gain) or a loss.

See Checklist ― calculation of capital gains and losses for issues to consider when reporting client gains and losses.

A number of changes to capital gains tax rates for individuals were announced in Autumn Budget 2024:

1. •

   the rates that apply to most assets increased from 10% to 18% and from 20% to 24% for disposals taking place from 30 October 2024 onwards

2. •

   carried interest subject to capital gains tax is taxed at a flat rate of 32% in the 2025/26 tax year irrespective of the individual’s unused basic rate band and is excepted to be subject to income tax from 2026/27 onwards

3. •

   the rates that apply to gains subject to business asset disposal relief and investors’ relief are increased from 10% to 14% for disposals in the 2025/26 tax year and to 18% for disposals from 2026/27 onwards

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