Welcome to Simia Farra & Company

Capital Gains Tax

Capital Gains Tax: Individuals and Trustees 2016-17 2015-16
Annual exempt amount
Individuals £11,100 £11,100
Trusts £5,550 £5,550
Rates
Standard rate taxpayers 10% 18%
Higher rate taxpayers / Trustees 20% 28%
Limit for gains subject to entrepreneurs’ Relief £10,000,000 £10,000,000
Entrepreneurs’ Relief rate 10% 10%
* There is an 8% surcharge on the sale of chargeable residential property and carried interest (the share of profits or gains that is paid to asset managers).

A 10% rate on long term external investment in unlisted companies was introduced on 6 April 2016, up to a separate maximum of £10 million of lifetime gains.

 

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