Capital Gains Tax

Capital gains tax rates and bands for 2015/16
On chargeable gains
Total taxable gains and income:
up to £31,785
from £31,786
18%
28%
Annual exemption
– individual £11,100
– most trustees £5,550
Chattels exemption
(proceeds per item or set) £6,000

 

Entrepreneurs’ 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.

Notes

  1. Transfers between husband and wife or civil partners living together are generally exempt.
  2. Capital gains of all trusts for 2014/15 are taxed at the rate of 28%. Where there are several trusts created by the same settlor, the annual exemption is divided equally between them, subject to a minimum exemption of £1,090 for each trust.