Capital Gains Tax
Capital gains tax rates and bands for 2016/17 |
On chargeable gains |
|
Total taxable income and gains:
up to £32,000
from £32,001 |
10%
20% |
Annual exemption |
|
- individual |
£11,100 |
- most trustees |
£5,550 |
Transfers between husband and wife or civil partners living together are generally exempt. |
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.
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