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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ASR Advantage Law Limited t/a ‘ASR Advantage Solicitors’, ‘ASR Solicitors’, ‘Advantage Law’, ‘Brown & Corbishley Solicitors’ and ‘David Bendell & Co’ is a limited company registered in England and Wales. Company No. 7333121. Advantage Law is Authorised and Regulated by the Solicitors Regulation Authority for its Legal Services. SRA No. 565383. VAT reg. 203559621. Registered office: 70 Villa Road, Birmingham, B19 1BL. A list of Directors is available on request.
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