Capital Gains Tax
2018/19 | 2017/18 | |
---|---|---|
Annual exemption | ||
Individuals, estates | £11,700 | £11,300 |
Most trusts | 5,850 | 5,650 |
Tax rate | ||
Individual (to basic rate limit)* | 10% | 10% |
Individual (above basic rate limit)* | 20% | 20% |
Entrepreneurs’ Relief (ER)** | 10% | 10% |
Trusts, estates* | 20% | 20% |
*Individuals are taxed at 18%/28% on gains on residential property and receipts of carried interest. Trusts are taxed at 28% in these circumstances.
**ER is available for lifetime gains of up to £10m. Qualifying disposals include a trading business and shares in a trading company (from a minimum 5% holding) by an officer/employee. Various conditions apply.
Shares in an unquoted trading company may be eligible for a 10% CGT rate on lifetime gains up to £10m, if disposed of after 5 April 2019 by someone who is neither a paid officer nor employee of the company (Investors’ Relief).