Capital gains tax

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2018/19 2017/18
Individual basic rate 10% 18%
Individual higher rate 20% 28%
Gains on residential property not eligible for principal private residence (PPR) relief and carried interest
        Individual basic rate 18% 18%
        Individual higher rate 28% 28%
Entrepreneurs' relief - effective rate 10% 10%
Entrepreneurs' relief £10m £10m
Annual exemption
        Individuals and personal representitives £11,700 £11,300
        Settlement(s) (spread over total number) £5,850 £5,650
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.

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%