TF - Capital gains tax

CAPITAL GAINS TAX

Income tax rates

	2012-13	2011-12
Rates for individuals
On gains above the annual exemption and within basic rate band	18%	18%
On gains within the higher rate band	28%	28%

Rates for trusts
On all gains above the annual exemption	28%	28%

Annual exemptions	£	£
Individuals and certain trusts	10600	10600
Trusts generally	5300	5300
Personal representatives for year of death and next two years only	10600	10600

Entrepreneurs' relief
Rate on gains subject to entrepreneurs' relief	10%	10%
Entrepreneurs' relief lifetime limit of gains	£10m	£10m

The Tax Practice (Guildford) Limited registered in England & Wales 4414698