Capital gains tax

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2019/20 2018/19
Individual basic-rate income tax band 10% 18%
Individual higher-rate and additional-rate income tax bands 20% 28%
Gains on residential property not eligible for principal private residence (PPR) relief and carried interest
        Individual basic-rate income tax band 18% 18%
        Individual higher-rate and additional-rate income tax bands 28% 28%
Entrepreneurs' relief - effective rate 10% 10%
Entrepreneurs' relief to a limit of £10m £10m
Annual exemption
        Individuals and personal representitives £12,000 £11,700
        Settlement(s) (spread over total number) £6,000 £5,850
Main rate for trustees and personal representatives 20% 20%
Rate for trustees and personal representatives (for gains on residential property not eligible for PRR) 28% 28%
(proceeds per item or set) £6,000 £6,000

Notes

  • Transfers between spouses and civil partners living together are exempt.
  • Entrepreneurs' relief of 100% 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.
  • Non-UK residents are now subject to capital gains tax on the sale of UK residential property and from April 2019 on any other UK property, eg land and buildings.

Other exemptions:

  • SEED enterprise investment scheme (subject to conditions): 100%/50%
  • Venture capital trust: 100%
  • Social investment tax relief: 30%
  • Principal private residence (subject to conditions): 100%