Maidment Judd Chartered Accountants
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09/10 Capital Gains Tax
2009/10
2008/09
Annual Exemptions
Individuals
£10,100
£9,600
Most Trustees
£5,050
£4,800
Chattels (5/3 taxable on excess above)
£6,000
£6,000

Rates of Tax
Individuals
18%
18%
Companies
21%/28%
21%/28%
Trusts
18%
18%

Entrepreneurs’ Relief reduces the amount of the capital gain to be taxed on a disposal of qualifying business assets on or after 6 April 2008, as long as you have met the qualifying conditions throughout a one year qualifying period either up to the date of disposal or the date the business ceased. The relief is subject to a lifetime limit of £1,000,000 of qualifying capital gains for each individual.

 

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