Annual year-end accounts, tax and self assessment for small businesses.
Capital Gains Tax
|
Annual exempt amount |
2006 / 07 |
2005 / 06 |
|
Individuals etc* |
£8,800 |
£8,500 |
|
Most trustees |
£4,400 |
£4,250 |
*Individuals, trustees of settlements for the disabled, and personal representatives
of the estate of a deceased person.
The amount chargeable to CGT is added onto the top of income liable to income tax
for individuals and is charged to CGT at these rates:
• below the starting rate limit at 10%
• between the starting rate and basic rate limits at 20%
• and above the basic rate limit at 40%
