Capital gains tax
|Individual basic-rate income tax band||10%||10%|
|Individual higher-rate and additional-rate income tax bands||20%||20%|
|Gains on residential property not eligible for principal private residence (PPR) relief and carried interest|
|Individual basic-rate income tax band||18%||18%|
|Individual higher-rate and additional-rate income tax bands||28%||28%|
|Entrepreneurs' relief - effective rate||10%||10%|
|Entrepreneurs' relief to a limit of (from 11 March 2020)||£1m||£1m|
|Individuals and personal representitives||£12,300||£12,300|
|Settlement(s) (spread over total number)||£6,150||£6,150|
|Main rate for trustees and personal representatives||20%||20%|
|Rate for trustees and personal representatives (for gains on residential property not eligible for PRR)||28%||28%|
|Proceeds per item or set, for chattels||£6,000||£6,000|
- Transfers between spouses and civil partners living together are exempt.
- Entrepreneurs' relief of 100% is available in respect of gains made on the disposal of all or part of a business, or gains made on disposals of assets following the cessation of a business or gains by certain individuals who were involved in running the business, providing certain conditions are met.
- Non-UK residents are now subject to capital gains tax on the sale of UK property.
SEED enterprise investment scheme: 50% gains exempt from capital gains tax, subject to conditions.
Venture capital trust: all gains made from VCTs are 100% exempt from capital gains tax.
Social investment tax relief: 100% exempt, subject to conditions.
Principal private residence: 100% exempt, subject to conditions.