The CGT annual exempt amount and rates
For the 2026/27 tax year (6 April 2026 to 5 April 2027), the Capital Gains Tax annual exempt amount is £3,000 per individual — the same as 2025/26, and down sharply from £12,300 a few years ago. Gains above the allowance on shares and funds are taxed at 18% for basic-rate taxpayers and 24% for higher and additional-rate taxpayers; these rates have applied since 30 October 2024 and were unchanged at the Autumn 2025 Budget. Your CGT rate depends on where the gain sits when stacked on top of your income, so the same disposal can be part-taxed at 18% and part at 24%.
The dividend allowance and rates
Dividends are taxed under income tax, not CGT. The first £500 of dividend income is tax-free (the dividend allowance, unchanged for 2026/27). Above that, the 2026/27 rates are:
| Band | 2025/26 | 2026/27 |
|---|---|---|
| Basic rate | 8.75% | 10.75% |
| Higher rate | 33.75% | 35.75% |
| Additional rate | 39.35% | 39.35% |
The basic and higher dividend rates rose by 2 percentage points from 6 April 2026, announced at the Autumn 2025 Budget; the additional rate is unchanged. If your page or notes still show 8.75%/33.75%, those are the 2025/26 figures.
Section 104 pooling and the 30-day rule
The UK does not use simple FIFO for shares. Instead, all shares of the same class in the same company are grouped into a Section 104 holding — a single pool with an averaged cost. When you sell part of the holding, the cost is apportioned pro rata from the pool.
Before the pool, though, HMRC applies matching rules in order:
- Same-day rule — disposals are matched first to any shares of the same class bought on the same day.
- 30-day "bed and breakfast" rule — then to shares bought in the following 30 days. This anti-avoidance rule stops you selling to bank a loss and rebuying the same share the next day to keep your position.
- Section 104 pool — anything left is matched against the averaged pool.
Why this trips people up
If you sell VUSA and rebuy it 10 days later, the disposal is matched to the rebuy — not the pool — so a loss you thought you had harvested may be deferred. AllInvestView flags disposals inside the 30-day window so you don't miss the reclassification.
ISAs and SIPPs are outside all of this
Gains and dividends inside a Stocks and Shares ISA (annual allowance £20,000) or a SIPP are entirely free of CGT and dividend tax, and are not reported on your Self Assessment. Only holdings in a taxable "general investment account" reach the SA108 pages. When you build your report, keep your wrappers separate so tax-free holdings don't inflate your reportable gains — AllInvestView lets you hold them for a complete picture without counting them as taxable.
SA108 and what the report gives you
The SA108 capital gains summary is filed with your SA100 Self Assessment return. To complete it you need disposal proceeds, pooled cost, gains and losses, and the number of disposals — the figures the report assembles:
- Realised gains across all brokers with Section 104 pooling and the 18%/24% rates.
- 30-day rule flags so bed-and-breakfast matches are applied correctly.
- Dividend income totalled for the £500 allowance and dividend rates.
- Multi-currency conversion using historical exchange rates for foreign holdings.
- Exports to PDF, Excel and CSV for SA108 or your accountant.
AllInvestView does not submit to HMRC or apply your £3,000 allowance for you — it gives you accurate, pooled figures so SA108 is a copy-across, not a spreadsheet rebuild.
Frequently asked questions
Not tax advice. This page summarises the main UK investment tax rules for the 2026/27 tax year (£3,000 CGT annual exempt amount, 18%/24% CGT rates, the £500 dividend allowance with 10.75%/35.75%/39.35% rates, Section 104 pooling and the 30-day rule, and the £20,000 ISA allowance). Rates and rules change and your circumstances differ. Confirm your position with HMRC or a qualified tax adviser before acting.