Tax Rates and Allowances 2018

Capital gains tax (CGT)

2018/19

2017/18

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

Rates and annual exemption 2018/19

Individuals	2018/19
	£
Exemption	11,700
Standard rate	10%**
Higher rate*	20%**

* For higher rate and additional rate taxpayers.

** Higher rates of 18% and 28% may apply to the disposal of certain residential property.

Trustees	2018/19
	£
Exemption	5,850
Rate	20%

© 2018. This publication is published for the information of clients. It provides only an overview of the regulations in force at the date of publication and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this publication can be accepted by the authors or the firm.