CGT-Triggering Sale on Budget Day Before Announcement

Hi All, So I need some interpretation of the new CGT rules, if anyone might have any experience in these matters. It's an interesting little question arising for transactions specifically occurring on budget day. I sold some assets (specifically a small amount of Bitcoin that I held worth £33k, most of the value being gains to to length of time held) at exactly 12.20pm. The budget announcement started at 12.30pm. I had assumed that selling before the budget announcement would lock in the 20% rate come what may. However, reading the manual released following the budget the CGT rate of 24% comes into effect today: 5.65 Capital Gains Tax Rates – The lower and higher main rates of Capital Gains Tax will increase to 18% and 24% respectively for disposals made on or after 30 October 2024. The rate for Business Asset Disposal Relief and Investors’ Relief will increase to 14% from 6 April 2025, and will increase again to match the lower main rate at 18% from 6 April 2026. The new rates will be legislated in Finance Bill 2024-25. Source: https://assets.publishing.service.gov.uk/media/6722120210b0d582ee8c48c0/Autumn_Budget_2024__print_.pdf So, questions: Should I interpret this to mean that I will have to pay 24% on the gains, or do you think that because the transaction occurred prior to announcement, HMRC would be happy for me to submit the gain with CGT of 20%? Could I just rebuy the Bitcoin within 30 days under Bed & Breakfast rules to negate the CGT event? Thanks!

Hi ,
 

As the legislation advises that the new rates came into effect immedialtey, any transaction on 30/10/24 will be subject to the new rates  . Thank you .