Capital Gains – Blue Orchid Corporation Ltd http://www.bo-accounting.co.uk Accounting and Taxation Services - London Tue, 11 Aug 2020 08:53:27 +0000 en-GB hourly 1 https://wordpress.org/?v=5.8.1 http://www.bo-accounting.co.uk/wp-content/uploads/2020/08/cropped-blue-orchid-logo-32x32.jpg Capital Gains – Blue Orchid Corporation Ltd http://www.bo-accounting.co.uk 32 32 Capital Gains http://www.bo-accounting.co.uk/informations/capital-gains/ Tue, 11 Aug 2020 08:29:19 +0000 http://www.bo-accounting.co.uk/?p=108 Capital gains tax rates and bands for 2011/12

 

On chargeable gains
Total taxable gains and income:
up to £35,000
from £35,001
18%
28%
Annual exemption
– individual
£10,600
– most trustees
£5,300
Chattels exemption
(proceeds per item or set)
£6,000

 

Entrepreneurs’ Relief

Qualifying gains will be taxed at 10%.
Claims may be made on more than one occasion up to a “lifetime” total of £10 million.

Notes

  1. Transfers between husband and wife or civil partners living together are generally exempt.
  2. Capital gains of all trusts for 2011/12 are taxed at the rate of 28%. Where there are several trusts created by the same settler, the annual exemption is divided equally between them, subject to a minimum exemption of £1,060 for each trust.
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