Capital Gains Tax

Capital gains tax

    2015/16 2016/17
Exemptions - Individuals £11,100* £11,100*
  - Personal representatives (3yrs) £11,100* £11,100
  - Trusts (generally) £5,550 £5,550
* Nil for individuals subject to the annual charge for the remittance basis
Rates

- Individuals and Personal Reps: 10%/20% depending on income tax bracket (18/28% to 5th April 2016 or for taxable gains on residential property)                                                                             

- Most trustees: 20% (28% to 5th April 2016 or for taxable gains on residential property)

Entrepreneurs rate - Gains charged at rate of 10% on gains on qualifying business assets up to a maximum lifetime allowance of £10,000,000. Previously limit of £5,000,000 for gains prior to 5th April 2011.            

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