Capital taxes

Highlighting capital gains tax and inheritance tax.

Capital gains

The capital gains tax annual exempt amount will be reduced from £6,000 to £3,000 from April 2024.

Comment

It is estimated that around 570,000 individuals and trusts could be affected in 2024/25.

Inheritance tax

The inheritance tax nil-rate bands will stay fixed at their current levels until April 2028. The nil-rate band will continue at £325,000, the residence nil-rate band will continue at £175,000 and the residence nil-rate band taper will continue to start at £2 million.

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Addresses:
Sheen Stickland, 2 Oriel Court, Omega Park, Alton, Hampshire GU34 2YT
Sheen Stickland, 7 East Pallant, Chichester, West Sussex PO19 1TR
Sheen Stickland, The Engine House, 77 Station Road, Petersfield, Hampshire GU32 3FQ

Sheen Stickland is the trading name of Sheen Stickland LLP and Sheen Stickland Audit Ltd

Sheen Stickland LLP is a Limited Liability Partnership Registered in England. Number OC 313253 Reg Off: 2 Oriel Court, Omega Park, Alton, Hampshire, GU34 2YT

Partners: David Sanders, Philip Sharpe, Paul Wright, Paula Joyce, Sticklands Ltd

Not all the partners are members of Sheen Stickland LLP. A list of members of Sheen Stickland LLP is available from the Registered Office

Audit & related services are provided by Sheen Stickland Audit Ltd Registered in England. Number 02223334 Reg Off: 2 Oriel Court, Omega Park, Alton, Hampshire, GU34 2YT

Sheen Stickland Audit Ltd is registered to carry on audit work in the UK & Ireland and Sheen Stickland LLP is regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales