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Where Taxpayers and Advisers Meet

Tax on land after 30th Oct budget

mp2016
Posts:26
Joined:Sat Jan 02, 2016 1:14 pm
Tax on land after 30th Oct budget

Postby mp2016 » Thu Oct 31, 2024 11:25 am

Hello

If i own land that i paid 60k for about 4 years ago and is now worth 80k or 90k, what is the tax rate on sale of the land after yesterdays budget? and does it come into immediate effect?

my personal tax rate is at the 40% rate.

Thanks

bd6759
Posts:4377
Joined:Sat Feb 01, 2014 3:26 pm

Re: Tax on land after 30th Oct budget

Postby bd6759 » Fri Nov 01, 2024 8:27 am

30 October 2024 onwards
The following Capital Gains Tax rates apply:

18% and 24% for individuals (not including carried interest gains)
18% and 24% for individuals for residential property gains
18% and 28% for individuals for carried interest gains
24% for trustees including residential property gains
24% for personal representatives of someone who has died including residential property gains
28% for personal representatives of someone who has died for carried interest gains
10% for gains qualifying for Business Asset Disposal Relief


As a 40% payer, you will pay the higher rates.


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