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Investing · Oct 2024 rates

Capital Gains Tax (Shares & Other Assets)

Selling shares, funds, crypto or other investments outside an ISA/SIPP? CGT applies on gains above the £3,000 Annual Exempt Amount.

£
£

CGT due

£2,718

Effective rate 22.7%

Breakdown

  • Gross gain
    £15,000
  • Annual Exempt Amount
    −£3,000
  • Taxable gain
    £12,000
  • Basic-rate @ 18%
    £486
  • Higher-rate @ 24%
    £2,232
  • Total CGT
    £2,718

How we calculated your result

Gain = proceeds − base cost − allowable expenses. Subtract the £3,000 AEA. Remainder taxed at 18% (basic) or 24% (higher/additional). Your other taxable income fills the basic-rate band first.

Official UK rules in simple English

  • Annual Exempt Amount: £3,000 (2025/26).
  • Rates from 30 Oct 2024: 18% basic / 24% higher.
  • ISAs and pensions are CGT-free entirely.
  • Crypto is treated as a capital asset by HMRC.

Common pitfalls to watch out for

  • ⚠ Bed & ISA every year

    Sell up to £3k of gains, repurchase inside ISA — washes future gains tax-free.

  • ⚠ Section 104 holding rules

    Same-class shares are pooled for cost — not FIFO. Sell some Apple? Average cost across all your shares.

  • ⚠ Crypto wash sales

    Same-day and 30-day rules apply — selling and buying back the same coin within 30 days uses the new cost, defeating the loss claim.

Frequently asked questions

Are bonds CGT-free?
UK Gilts yes. Most corporate bonds no — gain on disposal is CGT-able.
What about investment trusts?
Treated like shares — CGT on disposal.

Educational. Pooled cost rules can be complex — seek advice for substantial portfolios.

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