Capital Gains Tax |
| Exemptions |
05-06 |
04-05 |
| Individuals, estates, etc. |
£8,500 |
£8,200 |
| Trusts generally |
£4,250 |
£4,100 |
| Chattels ( 5/3 taxable on excess gain
proceeds) |
£6,000 |
£6,000 |
|
| Rates |
|
|
| Individuals |
As savings rates |
| Trusts and estates |
40% |
40% |
|
| Taper Relief
for 04-06: |
Percentage of gain chargeable
is based on the number of complete years an asset is owned
after 05.04.98. |
|
| Years owned |
|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| Business Assets |
|
50 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
| Other Assets* |
|
100 |
100 |
95 |
90 |
85 |
80 |
75 |
70 |
65 |
60 |
* O-ne year's
extra relief for other assets owned before 17.03.98
|
|
| © Copyright March 2005, subject to Finance Act |
|