Budget 2020: CPI rise in capital gains tax exempt amount

From April 2020, the annual exemption for capital gains tax (CGT) will increase for individuals and trustees of settlements

The rise, confirmed in the Budget Red Book, increases the CGT annual exempt amount to £12,300 from the current £12,000 for individuals and personal representatives of deceased people who have capital gains, and £6,150, up from £6,000, for trustees of settlements for tax year 2020-21.

The annual exempt amount is increased annually in line with the consumer prices index (CPI) which was 1.7% at September 2019 when the government cut-off date falls.

The new allowances come into effect from 6 April 2020.

Average: 4.4 (5 votes)

Rate this article

Related Articles