Capital Gains Tax Rate 2024/25. Capital gains tax may be applied if the value has risen since the person died, and the gain is above the allowance (now £3,000 per person for the 2024/25 tax. In their march 2024 economic and fiscal outlook (efo), the obr estimate that the cut in capital gains tax payable on residential property gains increases property transactions.
The central board of direct taxes (cbdt) has issued frequently asked questions (faqs) dated 24 july 2024, clarifying certain points in relation to the capital. Major changes regarding taxation on capital gains were announced by finance minister nirmala sitharaman in union budget 2024.