Home > > 2009/10 rates and allowances > Capital gains tax
Capital gains tax
| Capital gains tax rates and bands are as follows: | ||
| 2009/10 | 2008/09 | |
| Standard rate | 18% | 18% |
| Entrepreneurs' relief - effective rate | 10% | 10% |
| Annual exemption | ||
| - individual | £10,100 | £9,600 |
| - settlement(s) (spread over total number) | £5,050 | £4,800 |
| Chattels exemption | ||
| (proceeds per item or set) | £6,000 | |
| Marginal relief | 5/3 excess over £6,000 | |
| Entrepreneurs' relief 2 | £1 million | |
Notes
- Transfers between spouses and civil partners living together are exempt.
- Entrepreneurs' relief 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. The first £1 million of gains that qualify will be charged to CGT at an effective rate of 10%. Gains in excess of £1 million will be charged at the normal rate of 18%. An individual will be able to make claims for relief on more than one occasion, up to a lifetime total of £1 million of gains qualifying for relief.
Did you know?
That the Government expects to receive £7.8 billion from Capital Gains Tax in the current tax year (2008/09 £2.2 billion)
Main taxes
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