Capital Gains Tax

Capital gains tax

    2017/18 2016/17
Exemptions - Individuals £11,300* £11,100*
  - Personal representatives (3yrs) £11,300* £11,100
  - Trusts (generally) £5,650 £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% for taxable gains on residential property)                  

- Most trustees: 20% (28% 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.       

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