Capital Gains Tax: Tax-Free Allowance Reduced to £6,000

The

UK government has announced that the tax-free allowance for capital gains tax will be reduced from £12,300 to £6,000 for the 2023/24 tax year with a further reduction to £3,000 from the 2024/25 tax year onwards . This will affect those selling assets such as shares, investment properties, businesses, and cryptocurrencies.
 

This has increased the relative attractiveness of pensions and ISAs.