Capital Gains Tax
| Exemptions |
2007/08 |
2006/07 |
| Individuals, estates,
etc |
£9,200 |
£8,800 |
| Trusts generally |
£4,600 |
£4,400 |
| Chattels
proceeds (excess
gain is taxable) |
£6,000 |
£6,000 |
| |
|
|
| Rates |
| Individuals |
As savings rates |
| Trusts and estates |
40% |
40% |
| |
| Taper Relief for 2006-08 |
| Percentage of gain chargeable is based on the number
of complete years an asset is owned after 5/4/98 |
| Years
owned |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| Business
Assets |
50 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
| Other
Assets* |
100 |
100 |
95 |
90 |
85 |
80 |
75 |
70 |
65 |
60 |
|
|
|
|
