PART 1

Income tax, corporation tax and capital gains tax

Capital gains tax

Annual exempt amount
40
Section 1L of TCGA 1992 (which provides for an increase in the annual exempt amount to reflect increases in CPI) does not apply for the tax years 2021-22 and 2022-23 (so that the annual exempt amount for each of those tax years remains at £12,300).
Words in s. 40 substituted (with effect for the tax year 2023-24 and subsequent tax years) by Finance Act 2023 (c. 1), s. 8(8)(b)(9)