How Much Is Capital Gains Tax 2024 On Property. The capital gains tax is calculated based on the profit from the sale, taking into account the property’s adjusted basis. In their march 2024 economic and fiscal outlook (efo), the obr estimate that the cut in capital gains tax payable on residential property gains increases property transactions.

If you sold a uk residential property on or after 6 april 2020 and you have tax on gains to pay, you can report and pay using a capital gains tax on uk property account. Everyone is entitled to the capital gains allowance of £3,000 for the current tax year 2024/25.