Capital gains tax is paid on the profit you make when you sell an asset that has increased in value.  From 6 April 2018, the amount of profit individuals can earn tax free will increase from £11,300 to £11,700.

Married couples and civil partners can use both partners’ annual exempt amounts, raising their total to a combined £23,400.

Assets held in trust will also rise from £5,650 to £5,850 of tax free profits.

For more information on capital gains tax rates and allowances, please visit:  https://www.gov.uk/government/publications/autumn-budget-2017-overview-of-tax-legislation-and-rates-ootlar/annex-a-rates-and-allowances

Helen Fielding

19 March 2018