http://www.legislation.gov.uk/ukpga/1992/12/section/1ITaxation of Chargeable Gains Act 1992An Act to consolidate certain enactments relating to the taxation of chargeable gains.1992-03-06texttext/xmlenStatute Law Database2026-04-20Expert Participation2026-04-06 Taxation of Chargeable Gains Act 1992s. 35(3)(d)(xviii)Housing and Regeneration Act 2008Sch. 7 para. 9s. 325(1)art. 2(1)3(1)Taxation of Chargeable Gains Act 1992s. 35(3)(d)(xviii)Crossrail Act 2008Sch. 13 para. 46Taxation of Chargeable Gains Act 1992s. 35(3)(d)(xviii)The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2008Sch. 1 para. 42 Sch. 3Sch. 2art. 1(2)Taxation of Chargeable Gains Act 1992Sch. 5C para. 3(1)(f)Income Tax Act 2007Sch. 1 para. 347Sch. 2s. 1034(1)Taxation of Chargeable Gains Act 1992Sch. 5C para. 3The Tax and Civil Partnership Regulations 2005reg. 128reg. 1(1)Taxation of Chargeable Gains Act 1992Sch. 5C para. 5The Tax and Civil Partnership Regulations 2005reg. 128reg. 1(1)Taxation of Chargeable Gains Act 1992Sch. 5C para. 6The Tax and Civil Partnership Regulations 2005reg. 128reg. 1(1)Taxation of Chargeable Gains Act 1992ActThe Pension Protection Fund (Tax) Regulations 2006Pension Protection Fund (Tax) Regulations 2006reg. 37(2)reg. 1Taxation of Chargeable Gains Act 1992ActThe Pension Protection Fund (Tax) Regulations 2006Pension Protection Fund (Tax) Regulations 2006reg. 38(3)reg. 1Taxation of Chargeable Gains Act 1992s. 587BFinance Act 2000s. 43(1)Taxation of Chargeable Gains Act 1992s. 169S(4A)Finance Act 2015s. 43(2)s. 43(5)Taxation of Chargeable Gains Act 1992Sch. 5C para. 3(1)The Venture Capital Trust (Winding up and Mergers) (Tax) Regulations 2004reg. 7(1)reg. 1(1)Taxation of Chargeable Gains Act 1992Sch. 5C para. 3(6)The Venture Capital Trust (Winding up and Mergers) (Tax) Regulations 2004reg. 7(2)reg. 1(1)Taxation of Chargeable Gains Act 1992Sch. 5C para. 5(1)The Venture Capital Trust (Winding up and Mergers) (Tax) Regulations 2004reg. 7(3)reg. 1(1)Taxation of Chargeable Gains Act 1992ActFinance Act 2002Sch. 16 para. 48(1)(2)s. 57(3)Taxation of Chargeable Gains Act 1992s. 4(10)Finance Act 2016s. 83(11)Taxation of Chargeable Gains Act 1992s. 4(10)(11)Scotland Act 2016s. 15(4)s. 13(14) 15(7)(a) 72(3)Taxation of Chargeable Gains Act 1992ActFinance Act 1997Sch. 12 para. 12(7) 13 14Sch. 12 para. 17Taxation of Chargeable Gains Act 1992s. 104(4)(b)(i)The Personal Equity Plan (Amendment No. 2) Regulations 1997reg. 13(1)(b)reg. 1Taxation of Chargeable Gains Act 1992s. 107(11)The Personal Equity Plan (Amendment No. 2) Regulations 1997reg. 13(2)(b)reg. 1 Part 1Chapter 11IA1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1If any of an individual's income for a tax year is chargeable to income tax at a higher income tax rate, gains accruing to the individual in the tax year are charged at the rate of 24%. 2If—anone of an individual's income for a tax year is chargeable to income tax at a higher income tax rate, butbthe individual is chargeable to capital gains tax for the tax year on an amount that exceeds the unused part of the individual's basic rate band,the excess (“the higher rate excess”) is charged at the rate of 24%. 3The remainder of this section sets out special rules which apply depending on the nature of the gains within subsection (2)(b).4If—athe gains consist of or include gains (“entrepreneur or investor gains”) chargeable at the rate of 18% under section 169N(3) or 169VC(2), andbthe total amount of the entrepreneur or investor gains exceeds the unused part of the individual's basic rate band,that unused part is used fully against those gains.5The effect of so doing is that other gains comprised in the higher rate excess are then charged at the rate of 24%. 6If the total amount of the entrepreneur or investor gains does not exceed the unused part of the individual's basic rate band—aso much of that unused part as is equal to that total amount is used against those gains, andbaccordingly, the higher rate excess consists only of gains other than entrepreneur or investor gains.7The individual may allocate so much of the unused part of the individual’s basic rate band as then remains to gains other than entrepreneur or investor gains. 8The effect of the allocation is that the gains to which the allocation is made are charged at the rate of 18%.9Any gains to which no allocation is made are charged at the rate of 24%. Pt. 1 substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 2Words in s. 1I(1) substituted (with effect in accordance with s. 12(3) of the amending Act) by Finance Act 2025 (c. 8), s. 12(2)(b)(3)Words in s. 1I(2) substituted (with effect in accordance with s. 12(3) of the amending Act) by Finance Act 2025 (c. 8), s. 12(2)(c)(3)Words in s. 1I(5) substituted (with effect in accordance with s. 12(3) of the amending Act) by Finance Act 2025 (c. 8), s. 12(2)(d)(3)Words in s. 1I(9) substituted (with effect in accordance with s. 12(3) of the amending Act) by Finance Act 2025 (c. 8), s. 12(2)(f)(3)Words in s. 1I(7) substituted (with effect in accordance with s. 12(3) of the amending Act) by Finance Act 2025 (c. 8), s. 12(2)(e)(3)S. 1I(7)-(9) substituted (with effect in relation to disposals made on or after 30.10.2024) by Finance Act 2025 (c. 8), s. 7(3), Sch. 1 para. 2(d) (with Sch. 2 Pts. 1, 2)S. 1I(A1) omitted (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by virtue of Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 2(3)Word in s. 1I(4)(a) substituted (with effect in accordance with s. 9(8) of the amending Act) by Finance Act 2025 (c. 8), s. 9(7)(8) (with Sch. 2 Pt. 3)