Capital Gains Tax (CGT)
- CGT is payable by individuals, trustees and personal representatives (PRs). Companies pay corporation tax on their capital gains.
- There are annual tax-free allowances (the ‘annual exempt amount’) for individuals, trustees and PRs. Companies do not have an annual exempt amount.
- For individuals, net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band.
- Gains which qualify for Investors’ Relief are charged at 10% for the first £10m of qualifying gains.
- Gains which qualify for Business Asset Disposal Relief are charged at 10% for the first £1 million.
Rates and annual exemption
| Individuals | 2024/25 |
|---|---|
| £ | |
| Exemption | 3,000 |
| Standard rate | 10% |
| Higher rate | 20% |
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, higher rates of 18% and 24% may apply to the disposal of certain residential property.
| Trusts | 2024/25 |
|---|---|
| £ | |
| Exemption | 1,500 |
| Rate | 20% |
- CGT is payable by individuals, trustees and personal representatives (PRs). Companies pay corporation tax on their capital gains.
- There are annual tax-free allowances (the ‘annual exempt amount’) for individuals, trustees and PRs. Companies do not have an annual exempt amount.
- For individuals, net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band.
- Gains which qualify for Investors’ Relief are charged at 10% for the first £10m of qualifying gains.
- Gains which qualify for Entrepreneurs’ Relief are charged at 10% for the first £1 million.
Rates and annual exemption
| Individuals | 2023/24 |
|---|---|
| £ | |
| Exemption | 6,000 |
| Standard rate | 10% |
| Higher rate | 20% |
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, higher rates of 18% and 28% may apply to the disposal of certain residential property.
| Trusts | 2023/24 |
|---|---|
| £ | |
| Exemption | 3,000 |
| Rate | 20% |
- CGT is payable by individuals, trustees and personal representatives (PRs). Companies pay corporation tax on their capital gains.
- There are annual tax-free allowances (the ‘annual exempt amount’) for individuals, trustees and PRs. Companies do not have an annual exempt amount.
- For individuals, net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band.
- Gains which qualify for Investors’ Relief are charged at 10% for the first £10m of qualifying gains.
- Gains which qualify for Business Asset Disposal Relief are charged at 10% for the first £1 million.
Rates and annual exemption
| Individuals | 2021/22 |
|---|---|
| £ | |
| Exemption | 12,300 |
| Standard rate | 10% |
| Higher rate | 20% |
The higher rate applies to higher rate and additional rate taxpayers.
Gains accruing on the disposal of certain residential property and arising on carried interest can attract a standard rate of 18% or a higher rate of 28% for individuals and of 28% for Trusts and Personal Representatives.
| Trusts | 2021/22 |
|---|---|
| £ | |
| Exemption | 6,150 |
| Rate | 20% |
- CGT is payable by individuals, trustees and personal representatives (PRs). Companies pay corporation tax on their capital gains.
- There are annual tax-free allowances (the ‘annual exempt amount’) for individuals, trustees and PRs. Companies do not have an annual exempt amount.
- For individuals, net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band.
- Gains which qualify for Investors’ Relief are charged at 10% for the first £10m of qualifying gains.
- Gains which qualify for Business Asset Disposal Relief are charged at 10% for the first £1 million.
Rates and annual exemption
| Individuals | 2021/22 |
|---|---|
| £ | |
| Exemption | 12,300 |
| Standard rate | 10% |
| Higher rate | 20% |
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, higher rates of 18% and 28% may apply to the disposal of certain residential property.
| Trusts | 2021/22 |
|---|---|
| £ | |
| Exemption | 6,150 |
| Rate | 20% |
Tax Rates & Allowances
- Introduction
- Capital Allowances – Plant And Machinery
- Capital Gains Tax (CGT)
- Car Benefits
- Car Fuel Benefit
- Cars – Advisory Fuel Rates For Company Cars
- Child Benefit
- Corporation Tax Rates
- Employee’s Statutory Payments
- Income Tax Allowances
- Income Tax Rates – Across the UK
- Income Tax Rates – Scotland
- Income Tax Rates – Wales
- Individual Savings Account (ISA)
- Inheritance Tax (IHT)
- Land and Buildings Transaction Tax
- Land Transaction Tax
- Mileage Allowance Payments (MAPS) For Employees
- Minimum Wage
- National Insurance Contributions (NIC) – Rates And Allowances
- Pensions Automatic Enrolment
- Pensions – Tax Relief On Pension Contributions
- Property Allowance
- Self Assessment – Key Dates
- Stamp Duty
- Stamp Duty Land Tax (SDLT)
- State Pensions
- Tax Reliefs For Individuals
- Trade Allowance
- Van Benefit
- VAT
- Vat Fuel Scale Charges
- Vehicle Excise Duty (VED) – Passenger Cars