Capital
Gains Tax Reform
Indexation and taper relief will no longer apply to disposals by individuals
and trustees after 5 April 2008.
| Annual Exemptions | 2010
/ 11 | 2009
/ 10 | |
| Individuals & certain trusts | £10,100 |
£10,100 | |
| Trusts generally | £5,050 |
£5,050 | |
| Chattels (restricted to 5/3rds of proceeds exceeding limit) |
£6,000 |
£6,000 | |
| Rate of Tax | 2010
/ 11 | 2009
/ 10 | |
| - Individuals | 18% |
18% | |
| - Trusts & estates | 18% |
18% | |
| Entrepreneurs' Relief | 2010
/ 11 | 2009
/ 10 | |
| Entrepreneurs' Relief effective rate | 10% |
10% | |
| Entrepreneurs' Relief lifetime limit of gains | £2,000,000 |
£1,000,000 | |
4/9th
of gain (effective rate of 10%). For trading businesses & companies (minimum
5% employee or director shareholding) held for at least one year.