Capital Gains Tax
2021/22 | 2020/21 | |
---|---|---|
Annual exemption amount | ||
Individuals, estates | £12,300 | £12,300 |
Most trusts | 6,150 | 6,150 |
Tax rate | ||
Individual (to basic rate limit)* | 10% | 10% |
Individual (above basic rate limit)* | 20% | 20% |
Trusts, estates* | 20% | 20% |
Business Asset Disposal Relief (BADR)** | 10% | 10% |
Investors’ Relief (IR)*** | 10% | 10% |
*Individuals are taxed at 18%/28% on gains on residential property and receipts of carried interest. Trusts and estates are taxed at 28% in these circumstances.
**BADR was called Entrepreneurs’ Relief prior to 6 April 2020. It is available for qualifying gains of up to £1m.
***Shares in an unquoted trading company may qualify on lifetime gains up to £10m. Various conditions apply.