Gary Smith of Evelyn Partners offers four capital gains tax (CGT) tips ahead of the Autumn Budget, amid speculation that CGT rates could rise to match income tax. The annual exemption has fallen from £12,300 in 2022/23 to £3,000, and the 2024 Budget raised rates from 10% to 18% and 20% to 24%, prompting many investors to sell assets early. Options include using the £20,000 annual ISA allowance via 'Bed & ISA' (where sale timing affects the rate) or sheltering investments in pensions, where 25% of the pot can be withdrawn tax-free up to £268,275. Smith also notes that property such as second homes and buy-to-let is subject to CGT, so property sales should be planned alongside investment disposals. As the exemption cannot be carried forward, he urges investors to use it each year, since CGT liabilities surged nearly 90% in 2024/25.
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