Call +44 (0)1163267786 - Email office@m-cubed.org

Capital gains tax

Standard and higher rates of capital gains tax (CGT) together with the annual exemption. The special rate of CGT and the limit applying for entrepreneurs’ relief purposes.

Capital Gains Tax (CGT) is payable by individuals, trustees and 'personal representatives' (PRs). Companies pay corporation tax on their capital gains.

There are annual tax free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.

For individuals net gains are added to 'total taxable income' to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income do not exceed the 'basic rate band'.

Gains which qualify for 'Investors' Relief' are charged at 10% for the first £10m of qualifying gains.

Gains which qualify for 'Entrepreneurs' Relief' are charged at 10% for the first £1 million.

Individuals 2024/25 2023/24
Exemption £3,000 £6,000
Standard rate 10% 10%
Higher rate 20% 20%

The higher rate applies to higher rate and additional rate taxpayers.

Additionally, higher rates of 18% and 24% may apply to the disposal of certain residential property.

Trusts 2024/25 2023/24
Exemption £1,500 £3,000
Rate 20% 20%
Copyright

© 2024 M Cubed Chartered Accountants. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Contact Us

Please call:
+44 (0)1163267786

Address
M Cubed Chartered Accountants, Unit 8, The Courtyard, Gaulby Lane, Stoughton, Leicestershire LE2 2FL
Quick links

Home | Contact us | Site map | Accessibility | Disclaimer | Help |

Registered in the UK and Ireland and regulated by the Institute of Chartered Accountants in England and Wales. M Cubed is a trading name of M Cubed Limited. A full list of the firms directors is open for inspection at Unit 8, The Courtyard, Gaulby Lane, Stoughton, Leicestershire LE2 2FL the principal place of business and registered office.
Registered in England & Wales: 02818027

powered by totalSOLUTION