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Capital gains tax
| 2019/20 | 2018/19 | |
| Individual basic-rate income tax band | 10% | 18% |
| Individual higher-rate and additional-rate income tax bands | 20% | 28% |
| Gains on residential property not eligible for principal private residence (PPR) relief and carried interest | ||
| Individual basic-rate income tax band | 18% | 18% |
| Individual higher-rate and additional-rate income tax bands | 28% | 28% |
| Entrepreneurs' relief - effective rate | 10% | 10% |
| Entrepreneurs' relief to a limit of | £10m | £10m |
| Annual exemption | ||
| Individuals and personal representitives | £12,000 | £11,700 |
| Settlement(s) (spread over total number) | £6,000 | £5,850 |
| Main rate for trustees and personal representatives | 20% | 20% |
| Rate for trustees and personal representatives (for gains on residential property not eligible for PRR) | 28% | 28% |
| (proceeds per item or set) | £6,000 | £6,000 |
Notes
- Transfers between spouses and civil partners living together are exempt.
- Entrepreneurs' relief of 100% is available in respect of gains made on the disposal of all or part of a business, or gains made on disposals of assets following the cessation of a business or gains by certain individuals who were involved in running the business.
- Non-UK residents are now subject to capital gains tax on the sale of UK residential property and from April 2019 on any other UK property, eg land and buildings.
Other exemptions:
- SEED enterprise investment scheme (subject to conditions): 100%/50%
- Venture capital trust: 100%
- Social investment tax relief: 30%
- Principal private residence (subject to conditions): 100%
