The tax-free Capital Gains Tax allowance for the 2023/2024 tax year is £6,000. This means you can make a profit of up to £6,000 from capital gains without owing any tax. However, if your gains exceed this amount, you’ll need to report them to HMRC and pay Capital Gains Tax (CGT) through a tax return.
Capital gains can come from assets like property, stocks, crypto, art, and more. Use Taxbert’s CGT calculator to estimate what you might owe.

The tax you pay on investment income depends on the type of income you earn. It could include:

• Income Tax
• Capital Gains Tax (CGT)
• Dividend Tax

If you invest in a small business or start-up participating in the Enterprise Investment Scheme (EIS), you can benefit from EIS loss relief if the business fails. This tax relief helps reduce the tax you owe by allowing you to claim back some of your losses when selling shares in an EIS business.
Learn how to claim EIS loss relief at Taxbert.

There are many ways to improve your tax efficiency, including:

• Maximizing your annual allowances
• Investing in ISAs and private pensions
• Putting money into Venture Capital Trusts (VCTs)

For the 2023/24 tax year, the tax-free dividend allowance is £1,000. This means you don’t pay tax on dividend income under £1,000. If your dividend income exceeds this amount, you’ll pay tax based on your income band, and you’ll need to report it to HMRC through a tax return.

Your crypto profits may be subject to Capital Gains Tax or Income Tax, depending on the situation. If you’re selling, spending, or exchanging crypto, you’re most likely liable for CGT on profits over £6,000, as HMRC considers crypto an asset.
If you’re mining, staking, earning, or receiving crypto as payment, you may owe Income Tax on earnings over £12,570 (the Personal Allowance), as HMRC treats these activities as income-generating.
For a precise estimate, use Taxbert’s crypto tax calculator.

For the 2023/24 tax year, HMRC has announced a change for PAYE high earners. If you earn less than £150,000 from your PAYE salary, you won’t need to file a tax return.
However, you’ll still need to file a tax return if you earned £100,000 or more during the 2022/23 tax year. For more details on your filing obligations, visit Taxbert.

HMRC views regular trading as an income-generating activity, which typically means you’ll need to pay Income Tax and National Insurance on earnings over £12,570.
Investing, however, is considered more of a one-off transaction and is likely to be subject to Capital Gains Tax.
Discover the pros and cons of each approach on Taxbert.