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The Chartered Instiute of TaxationSage Accountant Partner

Capital Gains Tax

Tax Tips and FAQs - below you will find a list of all our Tips and FAQs - click to see the full text and/or answer. You can also select specific sections to filter the information by using the menu options.

Annual Exemption
Rates of Tax
Roll over relief
Assets with a negligible value
Present low property values
Tax Tip & FAQ Home

Annual Exemption

Every one is entitled to a make a tax free capital gain up to the annual exempt amount, which is £10,100 in the 2010/11 tax year. This applies per person so a husband and wife (or civil partner) would each have their own annual exemption. It is important to review the ownership of any asset before its disposal, so that all annual exemptions can be utilised.


Rates of Tax

From 23 June 2010 there are now two rates of Capital Gains Tax - 18% and 28%.  The rate of tax payable will depend on your level of income.  


Roll over relief
A gain on disposal of business assets maybe deferred if the proceeds are spent on a replacement business asset.

Assets with a negligible value

Assets with a negligible value can be, in certain circumstances, be written off against capital gains in the tax year.


Present low property values

The present low property values presents the opportunity to re-organise the ownership of certain properties, with minimal tax implications. 


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