Capital Gains Tax: what you pay it on, rates and allowances
Capital Gains Tax allowances
You only have to pay Capital Gains Tax on your overall gains above your tax-free allowance (called the Annual Exempt Amount).
The Capital Gains tax-free allowance is:
- 拢3,000
- 拢1,500 for trusts
You can see tax-free allowances for previous years.
You may also be able to reduce your tax bill by deducting losses or claiming reliefs - this depends on the asset.