Capital Gains Tax
| Capital gains tax rates and bands for 2017/18 | |
|---|---|
| On chargeable gains | |
Total taxable income and gains: |
10%* 20%* |
| Trust rate *Higher rates (18%/28%) may apply to the disposal of certain residential property and carried interest. |
20%* |
| Annual exemption | |
| - individual | £11,300 |
| - most trustees | £5,650 |
| Transfers between spouses or civil partners living together are generally exempt. | |
| Chattels exemption | |
| (proceeds per item or set) | £6,000 |
Entrepreneurs' Relief and Investors' Relief
Qualifying gains will be taxed at 10%. Claims may be made on more than one occasion up to a 'lifetime' total of £10 million.