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Standard and higher rates of capital gains tax (CGT) together with the annual exemption. The special rate of CGT and the limit applying for entrepreneurs’ relief purposes.
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.
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13 Mar 2019
The Chancellor Philip Hammond presented his Spring Statement on Wednesday 13 March 2019.
05 Mar 2019
HMRC is urging business owners to make sure they are ready for a potential no deal Brexit.
The Financial Secretary to the Treasury, Mel Stride, has made a statement to the House of Commons setting out HMRC's progress on delivery of Making Tax Digital.
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