{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-1H",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-1H.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "section/1H",
  "kind": "section",
  "number": "1H",
  "heading": "The main rates of CGT",
  "text": "(1) This section makes provision about the rates at which capital gains tax is charged but has effect subject to—\n(a) section 169N (business asset disposal relief: rate of 18%), and\n(b) section 169VC (investors' relief: rate of 18%).\n(1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) Chargeable gains ... accruing in a tax year to an individual are charged to capital gains tax at a rate of 18% or 24%.\n(4) The question as to which of the rates applies to the gains concerned is determined by section 1I (income taxed at higher rates or gains exceeding unused basic rate band).\n(4A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(6) ... Chargeable gains accruing in a tax year to the personal representatives of a deceased individual are charged to capital gains tax at a rate of 24%.\n(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(8) ... Chargeable gains accruing in a tax year to the trustees of a settlement are charged to capital gains tax at a rate of 24%.\n(9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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. 2"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in s. 1H(1)(a) substituted (with effect in accordance with s. 8(6) of the amending Act) by Finance Act 2025 (c. 8), s. 8(5)(6) (with Sch. 2 Pt. 3)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Word in s. 1H(1)(b) substituted (with effect in accordance with s. 9(8) of the amending Act) by Finance Act 2025 (c. 8), s. 9(6)(8) (with Sch. 2 Pt. 3)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "S. 1H(1A) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(a)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "S. 1H(2) omitted (with effect in accordance with s. 12(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 12(1)(a)(3)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 1H(3) substituted (with effect in accordance with s. 12(3) of the amending Act) by Finance Act 2025 (c. 8), s. 12(1)(b)(3)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 1H(3) 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(2)(a)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Word in s. 1H(3) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(b)(i)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Word in s. 1H(3) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(b)(ii)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "S. 1H(4A) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(c)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "S. 1H(4B) 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(2)(b)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "S. 1H(5) 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(2)(b)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Word in s. 1H(6) 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(2)(c)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Word in s. 1H(6) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(d)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "S. 1H(7) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(e)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Word in s. 1H(8) omitted (with effect in accordance with s. 7(3) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 7(1)(f)(i)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Word in s. 1H(8) substituted (with effect in accordance with s. 7(3) of the amending Act) by Finance Act 2025 (c. 8), s. 7(1)(f)(ii)(3) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F19",
      "text": "S. 1H(9)-(11) 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(2)(d)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/section/1H",
    "retrieved_at": "2026-10-29T09:36:15.270072+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}