Capital Gains Tax 2024 Allowance Meaning

Capital Gains Tax 2024 Allowance Meaning. Capital gains tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. As per income tax rules, when an individual sells a capital asset, he/she can earn capital gains or losses.

Your tax bracket will once again determine how much capital gains tax on stocks and shares you pay; The taxation of capital gains has been rationalised and simplified.