Capital Gains Tax

CAPITAL GAINS TAX
Tax Rates – Individuals 18/19 19/20
Below UK higher rate income tax band

 

10% 10%
Within UK higher and additional rate income tax bands 20% 20%
Tax rate – Trusts and estates 20% 20%
Surcharge for residential property and carried interest 8% 8%
Exemptions    
Annual exempt amount: Individuals, estates, etc £11,700 £12,000
                                                  Trusts generally £5,850 £6,000
Chattels: gain limited to 5/3rds of proceeds exceeding £6,000 £6,000

 

Entrepreneurs’ Relief 10% on lifetime limit of £10,000,000 £10,000,000
For trading businesses and companies (minimum 5% participation) held for at least 1 year 2 years
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ICAEW The Chartered Institute of Taxation ACCA IPG IR