Matthew

Dear HMRC, Since the CGT rates are increasing in the middle of a tax-year, clearly two computations will need to be done for the different periods. My question is how will the AEA and thresholds be applied to the two periods? For a hypothetical example, if someone had income of £30,270, leaving £20k room at the lower rate and they had £50k gains before the 30th Oct and £50k gains afterwards, how will these gains be apportioned to the AEA and £20k lower rate threshold? Will the AEA and lower rate be applied to the earlier gains, the later gains, or some mixture of both? Thank you.