If you are looking at Capital Gains Tax or planning your finances, please feel free to contact us. We can discuss your specific circumstances to help you plan tax efficiently.
| 2020/21 | 2021/22 | 2022/23 | |
| Individuals | |||
| Exemption | £12,300 | £12,300 | £12,300 |
| Standard rate | 10% | 10% | 10% |
| Higher rate* | 20% | 20% | 20% |
| Trusts | |||
| Exemption | £6,150 | £6,150 | £6,150 |
| Rate | 20% | 20% | 20% |
| *For higher and additional rate taxpayers | |||
Business Asset Disposal Relief (formerly Entrepreneurs Relief)
From 1 April 2020 the first £1m of qualifying gains are charged at 10%. Gains in excess of the limit are charged at the rates detailed above.
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