Capital gains tax : recent developments
This briefing discusses the reforms made to capital gains tax since 2008, including the most recent changes announced in the 2024 Autumn Budget.

In the 2020 Budget the Government stated that it would introduce legislation to apply a zero rate of VAT to e-publications from 1 December 2020, but subsequently announced the zero rate would apply from 1 May.
VAT : zero-rating e-publications (114 KB , PDF)
Books, newspapers and magazines are one of a small number of goods and services that are charged VAT at a zero rate, and have been so since the introduction of the tax in 1973. By contrast electronic publications are subject to VAT at the standard rate, which is currently 20%. In his 2020 Budget speech the Chancellor Rishi Sunak announced that “from 1 December … books, newspapers, magazines or academic journals, however they are read, will have no VAT charge whatsoever.”[1] At the time it was estimated that the cost of extending zero-rating would be £175m in its first full year.[2] Initially the Government planned to consult on the details of the legislation ahead of its implementation,[3] but on 30 April announced that the zero rate would come in from 1 May 2020, “in a boost to readers and publishers during the coronavirus outbreak.”[4]
Notes :
[2] Budget 2020, HC 121, March 2020 p66 (Table 2.1 – item 15)
[3] HM Treasury, Overview of Tax Legislation & Rates, March 2020 para 2.21
[4] HM Treasury press notice, VAT scrapped on E-publications, 30 April 2020. Provision to this effect has been made by Order: SI 2020/459.
VAT : zero-rating e-publications (114 KB , PDF)
This briefing discusses the reforms made to capital gains tax since 2008, including the most recent changes announced in the 2024 Autumn Budget.
The state pension is liable to income tax, though pensioners are unlikely to pay tax in practice if their only income is the state pension.
In the 2024 Autumn Budget the Chancellor announced the introduction of VAT on private school fees from 1 January 2025. This briefing discusses the background to the government's decision and the legislation to bring it into effect.