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Chartered Certified Accountants
and Business Advisors

01530 267320

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Capital Gains Tax

  • CGT is payable by individuals, trustees and personal representatives (PRs). Companies pay corporation tax on their capital gains.
  • There are annual tax free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
  • For individuals net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band.
  • Gains which qualify for Entrepreneurs' Relief  or Investors' Relief are charged at 10% for the first £10m of qualifying gains.

Rates and annual exemption 2018/19

Individuals 2018/19
£
Exemption 11,700
Standard rate 10%**
Higher rate* 20%**

* For higher rate and additional rate taxpayers.

** Higher rates of 18% and 28% may apply to the disposal of certain residential property.

Trustees 2018/19
£
Exemption 5,850
Rate 20%
  • CGT is payable by individuals, trustees and personal representatives (PRs). Companies pay corporation tax on their capital gains.
  • There are annual tax free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
  • For individuals net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band.
  • Gains which qualify for Entrepreneurs' Relief  or Investors' Relief are charged at 10% for the first £10m of qualifying gains.

Rates and annual exemption 2017/18

Individuals 2017/18
£
Exemption 11,300
Standard rate 10%**
Higher rate* 20%**

* For higher rate and additional rate taxpayers.

** Higher rates of 18% and 28% may apply to the disposal of certain residential property.

Trustees 2017/18
£
Exemption 5,650
Rate 20%

 

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