Capital gains tax raises billions for the Government every year. Investors and people selling their properties could be in for some hefty tax bills, particularly with the capital gains tax changes coming into play. Capital gains tax, in the simplest sense, is the tax paid on profits from disposing of assets. As of 6th April 2023, the amount of profit you can make from your property sale before incurring a capital gains tax bill reduced from £12,300 to £6,000. It then halves again to £3,000 from the following tax year.

Here’s all you need to know about capital gains tax…