Allowances frozen and cut

Allowances frozen and cut

It is easy to forget the hidden tax rises which are created by frozen and cut allowances, so here is a quick reminder.

Recognising capital losses

Recognising capital losses

The annual capital gains exemption (currently £12,300) will be cut to £6,000 on 6 April 2023 and £3,000 in April 2024.

Capital gains and inheritance tax

Capital gains and inheritance tax

Capital gains made by individuals are generally taxed at lower rates to income and taxpayers benefit from a separate annual exemption that covers the first £12,300 of gains made per year.