Capital Gains Reference
2006/07 annual exemption for individuals £8,800 (£4,400 for trusts). Gains are charged at the
individual's top savings income tax rate.
Taper relief
For disposals after 5 April 2004, count numbers of complete years asset owned from 5 April 1998:
Propotion of gain chargeable:
Complete years |
Business assests |
Non-Business assets* |
|
|
|
0 |
100% |
100% |
1 |
50% |
100% |
2 |
25% |
100% |
3 |
25% |
95% |
4 |
25% |
90% |
| 5 to 10 | 25% | 85% down to 60% |
* a bonus holding year is given for non-business assets held on 17 March 1998.