Overview
- HMRC confirms its online return does not automatically calculate Capital Gains Tax at the new 2024–25 main rates and directs filers to a separate calculator with guidance.
- The Autumn Budget raised CGT mid‑year, lifting the basic rate from 10% to 18% and the higher rate from 20% to 24%, which requires splitting gains by disposal date.
- Filers who use the standard calculation must override it via adjustment box 51 and explain their workings in box 54 to avoid underpaying.
- Advisers at BDO, AJ Bell and the Low Incomes Tax Reform Group warn that errors could lead to enquiries or penalties and urge taxpayers to review returns already submitted.
- With roughly 5.6 million returns still outstanding, HMRC reiterates the 31 January filing and payment deadline and notes that late or incorrect submissions can trigger fines and interest, as the department assesses inaccurate CGT cases individually.