Capital gains tax

Notes

1. Transfers between spouses and civil partners living together are exempt.
2. Entrepreneurs' relief is available in respect of gains made on the disposal of all or part of a business, or gains made on disposals of assets following the cessation of a business or gains by certain individuals who were involved in running the business. The first £2 million (rate to 22 June 2010): £5 million (rate from 23 June 2010) of gains that qualify will be charged to CGT at an effective rate of 10%. Gains in excess of the exception will be charged at the normal rate of either 18% or 28%. An individual will be able to make claims for relief on more than one occasion, up to a lifetime total.

Did you know?

That the Government expect to receive £3.4bn from capital gains tax (2010/11 - £3.2bn)