A capital gain arises when certain capital assets are sold at a profit. From 6 April 2016 capital gains tax is charged at the rate of 10% on gains (including any held over gains coming into charge) where net total taxable gains and income is below the income tax basic rate band threshold.
Gains or any parts of gains above the basic rate band are charged at 20% with a few exceptions. Entrepreneurs’ Relief or Investors’ Relief may be available on certain business disposals.
- Entrepreneurs’ Relief
- Investors’ Relief
- Simplification of the share identification rules
- Capital Gains Tax annual exemption
- Exceptions to the Capital Gains Tax rates
- Other reliefs to which you may be entitled
If you would like to talk about Capital Gains Tax and planning the disposal of your capital assets, please do get in touch with the tax specialists at DRG Chartered Accountants. We would be delighted to hear from you.
DISCLAIMER: This information is for guidance only, and professional advice should be obtained before acting on any information contained herein. We will not accept any responsibility for loss to any person as a result of action taken or refrained from in consequence of the contents of this publication.