TL;DR
The annual CGT exemption is £3,000 (2024/25), down from £12,300 in 2022. Above that, you pay 18% (basic rate) or 24% (higher rate) on gains. For FIRE planners with significant GIA holdings, careful bed-and-ISA management is essential.
In short
The 'bed-and-ISA' move — selling GIA holdings each tax year and rebuying inside an ISA — is the standard way to crystallise gains gradually within the £3k allowance. Done over 5–10 years, it can shift £100k+ of taxable wealth into the ISA shelter with minimal CGT drag.
We're working on a full deep-dive for this article — including historical data, charts, and worked examples. In the meantime, you can run a free simulation to explore the underlying numbers yourself.
Frequently asked questions
- Has the annual CGT exemption really fallen?
- Yes — from £12,300 in 2022/23 to £6,000 in 2023/24 to £3,000 in 2024/25. The trend has been sharply downward.
- Can I offset losses against gains?
- Yes — within the same tax year automatically, and carrying forward indefinitely if you register the loss with HMRC.
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