You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
Opening Hours: Monday to Thursday 9:00 am to 5:30 pm, Friday 9.00 am to 5.00 pm
Standard and higher rates of capital gains tax (CGT) together with the annual exemption. The special rate of CGT and the limit applying for entrepreneurs’ relief purposes.
Capital Gains Tax (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.
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.
Due to the changes in government guidance we have reviewed our current procedures. Our reception area is still closed and we are still restricting the number of visitors to the office at any one time. Please do not attend our offices unless you have an appointment or have arranged to bring in identity verification documents or to collect or drop off documents. We are still holding telephone appointments rather than face-to-face appointments where possible or dealing with items by email. If you do attend our offices for an appointment then we ask that you follow some simple guidelines such as using the hand sanitiser available, wearing a face covering and keeping a distance from our employees.
If you have an enquiry please telephone our offices on 01226 213434 or email email@example.com or use the contact form on our website.
We would like to thank everyone for their cooperation and understanding.