Capital Gains Tax 2024/5 5 Lakhs. Capital gains tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. This article outlines the proposed changes to capital gains tax and inheritance tax in 2023/24.

The rate of capital gains tax is 10%, where the total taxable gains and income is less than £37,700. 2023 capital gains tax brackets.