Capital Gains Tax 2011

Exemptions 2011/12 2010/11
Individuals, estates, etc £10,600 £10,100
Trusts generally £5,300 £5,050
Chattels proceeds (restricted to5/3rds 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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