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Capital gains tax

Capital gains tax rates and bands are as follows:
  2012/13 2011/12
Standard rate 18% 18%
Higher rate 28% 28%
Entrepreneurs' relief - effective rate 10% 10%
Entrepreneurs' relief £10,000,000 £10,000,000
Annual exemption    
- individual £10,600 £10,600
- settlement(s) (spread over total number) £5,300 £5,300
Chattels exemption
(proceeds per item or set) £6,000 £6,000
Marginal relief 5/3 excess over £6,000

Notes

  1. Transfers between spouses and civil partners living together are exempt.
  2. Entrepreneurs' relief 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.

Did you know?

That the Treasury is expecting to raise £3.8 billion (2011/12 - £4.2 billion) from capital gains tax.