Capital gains tax (CGT)

The annual CGT exemption for individuals and personal representatives increased by £300 to £12,000 for 2019/20. The exempt amount for most trusts is £6,000.
There were no changes to any of the CGT rates. Taxable capital gains are added to the investor’s other taxable income to determine the rate of CGT they pay. To the extent they fall within their basic rate tax band they are taxed at 10%. To the extent they exceed it, they are taxed at 20%. Capital gains linked to residential property are, however, still taxed at 18% and 28% (as appropriate).

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