What is the CGT rate on residential property in 2024/25?

Basic rate taxpayers pay 18% on residential property gains. Higher and additional rate taxpayers pay 24%. These rates apply from October 2024 (previously 18%/28%). Non-residential property rates are 10%/20%.

What is Principal Private Residence (PPR) relief?

PPR relief exempts the portion of the gain attributable to periods when the property was your main home. The final 9 months of ownership always qualify regardless of occupancy. Full relief applies if you lived there throughout.

What is the CGT annual allowance in 2024/25?

The CGT annual exempt amount is £3,000 for 2024/25 (reduced from £6,000 in 2023/24 and £12,300 in 2022/23). Each individual has their own allowance — couples can use both.

When do I have to report and pay property CGT?

UK residents must report and pay property CGT within 60 days of completion using HMRC's "Report and pay CGT on UK property" service. The gain is also reported on your Self Assessment tax return.

Can I deduct renovation costs from my CGT gain?

Yes — capital improvement costs (e.g. extensions, new kitchens, loft conversions) that enhance the property's value can be deducted. Routine repairs and maintenance that merely restore the property cannot be deducted.

Property Capital Gains Tax Calculator 2024/25

Calculate CGT on UK residential property disposals. Includes PPR (Principal Private Residence) relief, lettings relief, the £3,000 annual CGT allowance, and updated rates of 18% (basic rate) or 24% (higher/additional rate) effective from October 2024.

Property Capital Gains Tax Calculator

Calculate CGT on UK residential property disposals 2024/25

Purchase price (£)

Purchase costs (£)

Stamp duty, legal fees

Improvement costs (£)

Qualifying capital improvements only

Sale price (£)

Sale costs (£)

Agent fees, legal fees

Ownership period (years)

Income band

Your income tax band determines CGT rate (basic 18%, higher/additional 24% on residential)

Is this your main residence?Yes — Principal Private Residence (PPR) relief may apply

5 Property CGT Planning Tips

Use your annual CGT allowance: Each individual has a £3,000 tax-free allowance (2024/25). Couples can transfer property interests to use both allowances — saving up to £720 in CGT.
Bed & ISA strategy: If selling other investments, consider selling and repurchasing inside an ISA to shelter future gains from CGT entirely.
Nominate your principal residence: If you own more than one home, formally nominate which is your PPR within 2 years of acquiring the second property to maximise relief.
Time your disposal: Disposing of property at the start of a new tax year (6 April) gives you a full year before CGT is due (31 January following the next tax year), improving cash flow.
Offset capital losses: Losses on other disposals in the same tax year can be offset against property gains. Losses from previous years can be carried forward indefinitely — keep records.

CGT Rates on Residential Property 2024/25

From 30 October 2024, CGT rates on residential property are 18% for basic rate taxpayers and 24% for higher and additional rate taxpayers. Non-residential property and other assets are taxed at 10% / 20%.

How PPR Relief Works

If the property has been your main residence throughout ownership, the entire gain is exempt. For periods of partial occupation, the exempt portion is calculated as:
(months as main home + 9 final months) ÷ total months × gross gain

Reporting Requirements

Since April 2020, UK residents must report residential property disposals and pay estimated CGT within 60 daysof completion via HMRC's online service. The gain must also appear on the annual Self Assessment return.

Non-Residents

Non-UK residents are subject to Non-Resident CGT (NRCGT) on UK property disposals and must report within 60 days regardless of whether a gain arises. Different rules apply — seek specialist advice.