In short
- The Budget is on Wednesday 28 October 2026. Nothing about capital gains tax has been announced.
- Today the main rates are 18% and 24%, with a £3,000 annual exempt amount.
- Reports say higher CGT rates are being considered. That is speculation until the Chancellor speaks.
- Your 2025/26 return, due by 31 January 2027, uses the rules in force when you sold. The Budget cannot change it.
The Chancellor, John Healey, confirmed the date in a letter to the Treasury Committee. The Office for Budget Responsibility publishes its forecast the same day. We will update this page with what is actually announced on 28 October.
The capital gains tax rules today
These are the rules from HMRC for the current tax year, 2026/27 (6 April 2026 to 5 April 2027).
| 2026/27 | Source | |
|---|---|---|
| Basic rate on gains | 18% | gov.uk |
| Higher and additional rate on gains | 24% | gov.uk |
| Annual exempt amount | £3,000 | gov.uk |
| Business Asset Disposal Relief rate | 18% | gov.uk |
| Dividend tax (ordinary and upper rates) | 10.75% and 35.75% | gov.uk |
One change is already law for next year: from 6 April 2027 the cash ISA limit falls to £12,000 for people under 65, while the overall ISA limit stays at £20,000 (gov.uk). Stocks and shares ISAs are not affected by that cap.
More people pay the tax than ever. HMRC's latest statistics show a record 584,000 capital gains tax payers in 2024/25, partly because people sold ahead of the October 2024 rate rise.
What has been reported about the Budget
None of this is government policy. It is what newspapers, think tanks and advisers have written. In a Sunday Times interview reported by City AM, the Chancellor said the UK has the "lowest capital gains tax (CGT) of any European G7 nation", and also that he would not add to speculation.
| Idea | Where it comes from | How firm |
|---|---|---|
| Raise CGT rates towards income tax rates (20%, 40%, 45%) | Discussed in Budget previews such as City AM; one newspaper report says it is being considered | Speculation |
| Remove the CGT uplift on death | Proposed in a Labour MP's article reported by Sky News | Proposal, not policy |
| An exit tax on people who leave the UK | Listed by law firms such as Osborne Clarke; also floated before the 2025 Budget, when it did not happen | Speculation |
| Cut the £3,000 annual exempt amount | Appears in adviser lists; we found no newspaper reporting it | Unlikely to be briefed |
There are arguments against a rise too. Tax Policy Associates argues that people selling early to beat a rise makes large reforms hard to pull off, and critics cite HMRC estimates that a large rise in the higher rate could raise less money, not more.
When would a change start?
Most tax changes start on 6 April. Capital gains tax rates have recently changed on Budget day itself: the October 2024 Budget raised the main rates from 10% and 20% to 18% and 24% for sales on or after 30 October 2024, the day of the speech (Finance Act 2025). Advisers such as Charles Russell Speechlys say a 2026 change would normally start on 6 April 2027 but could start on Budget day again.
Last time, the 2024/25 tax return had no way to split gains before and after the change. HMRC published a CGT adjustment calculator, and people entered the difference in box 51 of the SA108 capital gains pages. FiscalFox already works out that 2024/25 adjustment for you, sale by sale.
Your 2025/26 return is not affected
If you sold shares, funds or ETFs between 6 April 2025 and 5 April 2026, those sales are taxed at 18% and 24% after the £3,000 allowance, whatever happens on 28 October. The return is due online by 31 January 2027, and HMRC asks for the calculations behind your figures, not just the totals.
Upload your broker export to see your 2025/26 gains and estimated tax free. FiscalFox applies the same-day, 30-day and Section 104 rules across all your brokers, and the report pack gives you the workings for each sale and the figures for the SA108 pages.
Before you act on a rumour
FiscalFox does not give personal advice, and nobody knows what the Budget will contain. These are the points platforms and advisers are making to investors (Hargreaves Lansdown, AJ Bell and Evelyn Partners via Trustnet):
- Selling and buying back does not reset your cost. Under the 30-day rule, a sale is matched to shares of the same company you buy in the next 30 days, not to your older shares.
- The £3,000 allowance is lost if unused. It cannot be carried forward to a later year.
- Bed and ISA (selling outside an ISA and buying inside one) is not caught by the 30-day rule, but platforms say it can take time to arrange, and the sale itself is still a disposal.
- Transfers to a spouse or civil partner are at no gain and no loss. See our guide to spouse transfers.
- Losses need reporting to be used. A loss you never report to HMRC cannot be carried forward. See capital losses.
Frequently asked questions
Will capital gains tax go up in the Autumn Budget 2026?
Nobody outside government knows. As of 12 October 2026 the Treasury has not announced any change to capital gains tax for the Budget on 28 October 2026. Newspapers have reported that raising CGT rates towards income tax rates is being considered, but this is speculation, not policy.
Does the Budget change my 2025/26 tax return?
No. Your 2025/26 return, due online by 31 January 2027, covers sales made between 6 April 2025 and 5 April 2026. Those sales are taxed at the rates in force when you made them: 18% and 24%, with a £3,000 annual exempt amount. A Budget announcement on 28 October 2026 cannot change tax on sales that have already happened.
When would a capital gains tax change take effect?
Tax changes usually start on 6 April, the beginning of a tax year. CGT rate changes can also start on Budget day itself: the October 2024 Budget raised the main rates from 10% and 20% to 18% and 24% for sales made on or after 30 October 2024, the day of the announcement.
Should I sell shares before the Budget?
FiscalFox does not give personal advice. Investment platforms including Hargreaves Lansdown, AJ Bell and interactive investor have warned that selling on rumours can backfire. If you sell and buy the same shares back within 30 days, the 30-day rule matches the sale to the new purchase, not to your older shares, so a quick sell and rebuy does not lock in today's gain.
How did HMRC handle the rate change in October 2024?
The 2024/25 Self Assessment return could not split gains made before and after 30 October 2024. HMRC asked people with gains after that date to use its CGT adjustment calculator and enter the difference in box 51 of the SA108 capital gains pages.
Official UK tax references
This guide is checked against published GOV.UK and HMRC material. FiscalFox is a calculation tool, not personal tax advice; review unusual transactions with a qualified adviser.