Capital Gains Tax 2024/5 5 Year Rule. This measure changes the capital gains tax (cgt) annual exempt amount (aea). The capital gains tax allowance for the 2023/24 tax year has decreased by more than 50% from its 2022/23 threshold of £12,300 to £6,000.

To find out more about the current capital gains tax rules and allowances, see our range of cgt guides. In 2024, individuals’ taxable income can be up to $47,025 to skip capital gains taxes with a 0% rate.