Maidment Judd Chartered Accountants
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08/09 Capital Gains Tax
2008/09
2007/08
Annual Exemptions
Individuals
£9,600
£9,200
Most Trusts
£4,800
£4,600
Chattels (5/3 taxable on excess above)
£6,000
£6,000

Rates of Tax
Individuals
18%
10%/20%/40%
Companies
21%/28%
20%/30%
Trusts
18%
40%

Taper relief (ceases 6th April 2008)
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.

 

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