In his budget speech, Chancellor of the Exchequer Reeves said capital gains tax would rise from the lower rate of 10% to 18% on most assets and from 20% to 24% on high earners, and said changes to the system would raise 2.50 billion pounds. The increase in capital gains tax brings the tax rate on most assets in line with the rate payable on properties. Capital gains tax is paid on profits from the sale of assets of more than 3,000 pounds ($3,896.70), and the rate depends on the amount of income tax people usually pay and the size of the gain.