Capital Gains Tax
Capital Gains Tax
| Categories & Rates | 2023/2024 | 2024/2025 |
|---|---|---|
| Exemptions | ||
| Individuals, estates etc. | £6,000 | £3,000 |
| Trusts generally* | £3,000 | £1,500 |
| Tax Rates | ||
| Individuals - Up to the basic rate limit | 10%** | 10%** |
| Individuals - Above the basic rate limit | 20%** | 20%** |
| Trustees and personal representatives | 20%** | 20%** |
| Business Asset Disposal Relief*** | ||
| Gains taxed at: | 10% | 10% |
| Lifetime limit | £1,000,000 | £1,000,000 |
*Where a Settlor has created more than one trust, the exemption is spread across all trusts, subject to a minimum of 1/5th of the trust annual exemption.
**Except for carried interest and chargeable gains on residential property which are taxed at 18% up to the basic rate limit and 28% (2023/2024) or 24% (2024/2025) above the basic rate limit.
***For trading businesses and companies (minimum 5% employee or director shareholding) held for at least one year.