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ACCA Strategic Professional · Advanced Taxation (UK) · Capital gains tax: gains and losses on the disposal of shares and securities

Under the Finance Act 2025 rates in the ATX-UK tax tables, which of the following correctly states the rates of capital gains tax (CGT) applying to an individual's chargeable gains on shares, before any reliefs, and the annual exempt amount?

The CGT rates in the ATX-UK tables are 18% for gains falling within the basic rate band and 24% for gains above it, with an annual exempt amount of £3,000. Other combinations use superseded rates or exempt amounts.

  1. A10% and 20%, with an annual exempt amount of £3,000
  2. B18% and 24%, with an annual exempt amount of £3,000Correct
  3. C18% and 28%, with an annual exempt amount of £6,000
  4. D18% and 24%, with an annual exempt amount of £12,300

Explanation

The tax tables give a lower rate of 18%, a higher rate of 24% and an annual exempt amount of £3,000. The 10%/20% rates and the 28% rate are old rates, and £12,300 and £6,000 are outdated exempt amounts.

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