Capital Gains Tax

Exemptions	2011/12	2010/11
Individuals, estates, etc	£10,600	£10,100
Trusts generally	£5,300	£5,050
Chattels proceeds (restricted to 5/3rds of proceeds exceeding limit)	£6,000	£6,000

Tax Rate - Individuals
Up to basic rate limit	18%	18%
Above basic rate limit	28%	28%/18%*

Tax Rate - Trusts and estates	28%	28%/18%*
To 22/6/10	18%	18%

* 18% rate applies to disposals on or before 22/6/10. 28% thereafter.

Entrepreneurs’ Relief
Gains taxed at	10%	10%
Lifetime limit	£10,000,000	£5m/£2m**

** For disposals 6/4/10 to 22/6/10: £2m. £5m until 5/4/11.

For trading businesses and companies (minimum 5% employee or director shareholding) held for at least one year.

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Budget Summary