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Opening Hours: Monday to Friday 9:00 am to 5:30pm
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 'Entrepreneurs' Relief' are charged at 10% for the first £1m.
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, higher rates of 18% and 28% may apply to the disposal of certain residential property.
In the interests of protecting our clients, employees and the wider community we have now closed our reception area and are asking clients not to come to the office but to telephone or email instead.
If you have an enquiry please telephone on 01226 213434 or email firstname.lastname@example.org or use the contact form on our website.
We would like to thank everyone for their cooperation and understanding during this time.
Please note that we are currently closing at 5pm.