Capital Gains Tax 2014

Tax rates – individuals
Gains up to basic rate limit18%18%
Gains above basic rate limit28%28%
Tax rate – trusts and estates28%28%
Individuals, estates, etc£11,000£10,900
Trusts generally£5,500£5,450
Chattels exemptions: proceeds up to£6,000£6,000
Maximum chargeable gains 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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