Maidment Judd Chartered Accountants
   Telephone (01582) 469500
 

04/05 Capital Gains Tax
2004/05
2003/04
Individuals - exemption
£8,200
£7,900
Balance of gains (reduced by taper relief) charged as top slice of income (at savings rates - ie 10%, 20% or 40%)
Trusts - exemption
£4,100
£3,950
- balance of gains (reduced by taper relief)
40%
34%

Taper relief 2004/05 and 2003/04 disposals
Percentage relief depends on number of complete years asset owned after 5.4.98.
Years of ownership
1
2
3
4
5
6
7
8
9
10
Business assets (% relief)
50
75
75
75
75
75
75
75
75
75
Non-business assets* (% relief)
0
0
5
10
15
20
25
30
35
40
*Add one extra year if asset owned before 17.3.98.

 

Top  Back

footer

© Copyright Maidment Judd 2004 - 2010. All rights reserved. This information has been produced for general interest. It is therefore essential to take advice on specific issues. We are unable to take responsibility for any outcome resulting from acting upon, or refraining to act upon, this information.