Capital Gains Tax

Rates 2016/17 2015/16
Tax rates – individuals
Gains up to basic rate limit 10% 18%
Gains above basic rate limit 20% 28%
Tax rate – trusts and estates 20% 28%
Surcharge for residential property and carried interest 8% 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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ICAEW The Chartered Institute of Taxation ACCA IPG IR