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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Douglas Shaw Limited, 7 Brenkley Way, Blezard Business Park, Seaton Burn, Newcastle upon Tyne NE13 6DS
Douglas Shaw is the trading name of Douglas Shaw Limited. Registered in England No. 4393682.
Registered to carry on audit work in the UK by the Institute Of Chartered Accountants in England & Wales.
Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C009189427.