2nd November 2018
The yearly exempt figure increases from £11,700 to £12,000 after April 6th 2019. This means that individual taxpayers will not have to pay Capital Gains Tax (CGT) on their first £12,000 gain. The rate remains at 18% for basic rate tax payers and 28% for those paying higher rate income tax. On the flip side, husband and wife landlords can sell a buy-to-let home they both own at 50/50. They will benefit from no CGT on the first £24,000 of any gain. Providing the couple are both basic rate taxpayers, the tax is based at 18%.