Rates of capital gains tax
|
Tax year
|
Rate
|
|
2011/12. 2012/13, 2013/14, 2014/15. 2015/16
Individuals
Standard rate
Higher rate
Trustees
|
18%
28%
28%
|
|
Individuals: pre 23/6/10 gains
Post 22/6/10 gains
Standard rate
Higher rate
Trustees and personal representatives:
Pre 23/6/10 gains
Post 22/6/10 gains
|
18%
18%
28%
18%
28%
|
|
2009/10
|
18%
|
From 23 June 2010, a higher rate of 28% applies to gains made by individuals where total taxable income and post 22/6/10 gains are more than income tax basic rate limit (£37,400). Below this level, the standard rate of 18% applies. Pre 23/6/10 gains are taxed at 18% regardless of the level of the taxpayer's taxable income and gains
Annual exempt amount
|
|
2014/15
|
2013/14
|
2012/13
|
2011/12
|
|
Individuals
|
£11,000
|
£10,900
|
£10,600
|
£10,600
|
|
Personal representatives and trustees for disabled persons
|
£11,000
|
£10,900
|
£10,600
|
£10,600
|
|
Other trustees
|
£5,500
|
£5,450
|
£5,300
|
£5,300
|
Notes
-
The full personal allowance is available to an executor or personal representative of the deceased during the administration period. The annual exempt amount is available for the tax year of death and following two tax years only.
-
Trustees for the disabled are entitled to the full annual exempt amount, rather than the lower 50% amount available to other trustees.
-
Persons who are not UK-domiciled and who pay tax on the remittance basis are not entitled to the annual exempt amount.
Entrepreneur’s relief
|
|
2011/12 onwards
|
2010/11
|
2009/10
|
|
Lifetime limit
From 23/6/10
5/4/10 to 22/6/10
|
£10,000,000
|
£5,000,000
£2,000,000
|
£1,000,000
|
From 23/6/10, gains up to the lifetime limit are taxed at 10%.
Prior to 23/6/10, gains charged to tax (subject to the lifetime limit) are reduced by 4/9th to give an effective rate of tax of 10%.
Availability of entrepreneur's relief is subject to the qualifying conditions being met.