The £3,000 Reality Check: Why 2025/26 Is The Tax Year Ilford Investors Can't Afford To Get Wrong I'll be blunt with you. Your annual exempt amount—that's the tax-free allowance for capital gains—has plummeted from a generous £12,300 in the 2022/23 tax year down to just £3,000 for the current 2025/26 year. That reduction isn't a gentle nudge from HMRC. It's a...