Freebies
1st Friday
Tax Chat
News
App

Capital Gains Tax – A reminder of the rates

Capital Gains Tax – A reminder of the rates

From 6 April 2016, separate rates of capital gains tax were introduced for capital disposals, excluding residential property. 

The rates of capital gains tax fell from 28% to 20% for higher rate taxpayers, and from 18% to 10% for basic rate taxpayers. These rates apply to the sale of shares, investments and commercial property.

Residential property is still subject to capital gains tax at the rate of 28% for higher rate taxpayers and 18% for basic rate taxpayers.

Entrepreneurs relief remains available for the sale of shares where all of the relevant conditions are met.  This reduces the capital gains tax rate from 20% to 10% and is applied to lifetime gains of up to £10 million per person.

For more information, please contact Lesley Sutton on 01484 550037 or email lesley.sutton@revellward.co.uk.

Share Button