As part of the UK Autumn Budget 2024, the government increased the Capital Gains Tax (CGT) rates with immediate effect from 30 October 2024. Since the UK tax year runs from 6 April to 5 April of the following year, two different tax rates apply within the 2024/25 tax year.
6 April 2024 – 29 October 2024 10% / 20%
30 October 2024 – 5 April 2025 18% / 24%
To ensure accurate calculation of the tax liability, we recommend to generate two separate tax reports for the 2024/25 tax year.
First Tax Report:
Period: 6 April 2024 to 29 October 2024
Second Tax Report:
Period: 30 October 2024 to 5 April 2025
Please make sure that the checkbox for “Check to use the custom period” is ticked.