Capital Gains Tax Allowance 2024/25 Scotland. Capital gains tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. For the current tax year (2024/25), the cgt allowance is £3,000.

Capital gains tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. In the autumn statement on 17 november 2022, the chancellor, jeremy hunt announced changes to the annual capital gains tax (cgt) exemption from 6 april.