• 2022/23
• 2021/22

• Capital gains tax (CGT)

  • CGT is payable by individuals, trustees and personal representatives (PRs). Companies pay corporation tax on their capital gains.
  • There are annual tax-free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
  • For individuals, net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band.
  • Gains which qualify for Investors' Relief are charged at 10% for the first £10m of qualifying gains.
  • Gains which qualify for Business Asset Disposal Relief are charged at 10% for the first £1 million.

  Rates and annual exemption

  Individuals	2022/23
  	£
  Exemption	12,300
  Standard rate	10%
  Higher rate	20%

  The higher rate applies to higher rate and additional rate taxpayers.

  Gains accruing on the disposal of certain residential property and arising on carried interest can attract a standard rate of 18% or a higher rate of 28% for individuals and of 28% for Trusts and Personal Representatives.

  Trusts	2022/23
  	£
  Exemption	6,150
  Rate	20%

• Capital gains tax (CGT)

  • CGT is payable by individuals, trustees and personal representatives (PRs) . Companies pay corporation tax on their capital gains.
  • There are annual tax-free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
  • For individuals, net gains are added to total taxable income to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income, do not exceed the basic rate band .
  • Gains which qualify for Investors' Relief are charged at 10% for the first £10m of qualifying gains.
  • Gains which qualify for Business Asset Disposal Relief are charged at 10% for the first £1 million.

  Rates and annual exemption

  Individuals	2021/22
  	£
  Exemption	12,300
  Standard rate	10%
  Higher rate	20%

  The higher rate applies to higher rate and additional rate taxpayers.

  Gains accruing on the disposal of certain residential property and arising on carried interest can attract a standard rate of 18% or a higher rate of 28% for individuals and a rate of 28% for Trusts and Personal Representatives.

  Trusts	2021/22
  	£
  Exemption	6,150
  Rate	20%