{"id":3530,"date":"2024-06-21T08:10:11","date_gmt":"2024-06-21T06:10:11","guid":{"rendered":"https:\/\/pfadvisors.co.uk\/?p=3530"},"modified":"2024-06-18T12:11:58","modified_gmt":"2024-06-18T10:11:58","slug":"navigating-capital-gains-tax-need-to-knows","status":"publish","type":"post","link":"https:\/\/pfadvisors.co.uk\/en\/navigating-capital-gains-tax-need-to-knows\/","title":{"rendered":"Navigating Capital Gains Tax \u2013 need to knows"},"content":{"rendered":"<p>Capital Gains Tax (CGT), the levy on profits from the sale of assets such as second homes, is undergoing changes. The Spring Budget revealed reduced rates for second homes and rental properties starting in April 2024.<\/p>\n<p>The higher rate of CGT has been reduced from 28% to 24% and the lower rate of CGT has been maintained at 18%. It\u2019s worth noting that CGT is not payable on your main home, only on second\/holiday homes.<\/p>\n<p>The threshold for CGT is shrinking too. Slashed from \u00a312,300 to \u00a36,000 in April 2023, it has now fallen to \u00a33,000. Your CGT liability hinges on the assets sold and your Income Tax bracket when profit is factored into your taxable income.<\/p>\n<p>&nbsp;<\/p>\n<p>\ud83d\udea8 Data accurate as of the date of publication \u2013 21.06.2024<\/p>\n<p>\ud83d\udea8Tax treatment varies according to individual circumstances and is subject to change. Advice on Capital Gains Tax<\/p>\n<p>and Taxation Advice is not regulated by the Financial Conduct. Some buy to lets are not regulated by the Financial<\/p>\n<p>Conduct Authority.<\/p>\n<p>\ud83d\udea8Information within this blog is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed.<\/p>\n<p>\ud83d\udea8Think carefully before securing debts against your home.\u00a0 Your home may be repossessed if you do not keep up repayments on your mortgage.<\/p>\n<p>\ud83d\udea8 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: Quilter Financial Planning \u2013 Essentially Mortgages Q2 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Capital Gains Tax (CGT), the levy on profits from the sale of assets such as second homes, is undergoing changes. The Spring Budget revealed reduced rates for second homes and rental properties starting in April 2024. The higher rate of CGT has been reduced from 28% to 24% and the lower rate of CGT has [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3508,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[42,25],"tags":[],"class_list":["post-3530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-landlords","category-aktualnosci-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Navigating Capital Gains Tax \u2013 need to knows - Prestige Financial Advisers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pfadvisors.co.uk\/en\/navigating-capital-gains-tax-need-to-knows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Navigating Capital Gains Tax \u2013 need to knows - Prestige Financial Advisers\" \/>\n<meta property=\"og:description\" content=\"Capital Gains Tax (CGT), the levy on profits from the sale of assets such as second homes, is undergoing changes. 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The Spring Budget revealed reduced rates for second homes and rental properties starting in April 2024. 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