Capital gains
The capital gains tax annual exempt amount will be reduced from £6,000 to £3,000 from April 2024.
Comment
It is estimated that around 570,000 individuals and trusts could be affected in 2024/25.
Inheritance tax
The inheritance tax nil-rate bands will stay fixed at their current levels until April 2028. The nil-rate band will continue at £325,000, the residence nil-rate band will continue at £175,000 and the residence nil-rate band taper will continue to start at £2 million.