Capital Gains Tax

Rates2016/172015/16
Tax rates – individuals
Gains up to basic rate limit10%18%
Gains above basic rate limit20%28%
Tax rate – trusts and estates20%28%
Surcharge for residential property and carried interest8%0%
Exemptions
Individuals, estates, etc£11,100£11,100
Trusts generally£5,550£5,500
Chattels exemptions: proceeds up to£6,000£6,000
Maximum chargeable gain 5/3rds of excess proceeds over limit.
Entrepreneurs’ relief
Gains taxed at 10% up to lifetime limit of£10,000,000£10,000,000
For trading businesses and companies (minimum 5% employee/director shareholding) held for at least one year.
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