Section 1H | The main rates of CGT ^F1

From legislation.gov.uk

(1)This section makes provision about the rates at which capital gains tax is charged but has effect subject to—

(a)section 169N (business asset disposal relief: rate of 18%), and^F2F3

(b)section 169VC (investors' relief: rate of 18%).^F4

(1A)Repealed^F5

(2)Repealed^F6

(3)Chargeable gains ... accruing in a tax year to an individual are charged to capital gains tax at a rate of 18% or 24%.^F7F8F9F10

(4)The question as to which of the rates applies to the gains concerned is determined by section 1I (income taxed at higher rates or gains exceeding unused basic rate band).

(4A)Repealed^F11

(4B)Repealed^F12

(5)Repealed^F13

(6)... Chargeable gains accruing in a tax year to the personal representatives of a deceased individual are charged to capital gains tax at a rate of 24%.^F14F15

(7)Repealed^F16

(8)... Chargeable gains accruing in a tax year to the trustees of a settlement are charged to capital gains tax at a rate of 24%.^F17F18

(9)Repealed^F19

(10)Repealed^F19

(11)Repealed^F19

Notes

F1
Pt. 1 substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 2
F2
Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))
F3
Word in s. 1H(1)(a) substituted (with effect in accordance with s. 8(6) of the amending Act) by Finance Act 2025 (c. 8), s. 8(5)(6) (with Sch. 2 Pt. 3)
F4
Word in s. 1H(1)(b) substituted (with effect in accordance with s. 9(8) of the amending Act) by Finance Act 2025 (c. 8), s. 9(6)(8) (with Sch. 2 Pt. 3)
F5
S. 1H(1A) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(a)(3) (with Sch. 2 Pts. 1, 2)
F6
S. 1H(2) omitted (with effect in accordance with s. 12(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 12(1)(a)(3)
F7
Words in s. 1H(3) substituted (with effect in accordance with s. 12(3) of the amending Act) by Finance Act 2025 (c. 8), s. 12(1)(b)(3)
F8
Words in s. 1H(3) omitted (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by virtue of Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 2(2)(a)
F9
Word in s. 1H(3) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(b)(i)(3) (with Sch. 2 Pts. 1, 2)
F10
Word in s. 1H(3) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(b)(ii)(3) (with Sch. 2 Pts. 1, 2)
F11
S. 1H(4A) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(c)(3) (with Sch. 2 Pts. 1, 2)
F12
S. 1H(4B) omitted (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by virtue of Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 2(2)(b)
F13
S. 1H(5) omitted (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by virtue of Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 2(2)(b)
F14
Word in s. 1H(6) omitted (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by virtue of Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 2(2)(c)
F15
Word in s. 1H(6) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(d)(3) (with Sch. 2 Pts. 1, 2)
F16
S. 1H(7) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(e)(3) (with Sch. 2 Pts. 1, 2)
F17
Word in s. 1H(8) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(f)(i)(3) (with Sch. 2 Pts. 1, 2)
F18
Word in s. 1H(8) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(f)(ii)(3) (with Sch. 2 Pts. 1, 2)
F19
S. 1H(9)-(11) omitted (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by virtue of Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 2(2)(d)