Uk Capital Gains Tax Free Allowance 2024/25. You need to pay capital gains tax when you sell an asset if your total taxable gains are above your annual capital gains tax allowance. For the 2024 to 2025 tax year the allowance is £3,000, which leaves £9,600 to pay tax on.

One significant aspect of the potential changes in cgt allowance concerns residential property gains. Work out your total taxable gains.