Capital Gains Tax
| 2022/23 | 2021/22 | |
|---|---|---|
| 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 is available on qualifying gains of up to £1m.
***Shares in an unquoted trading company may qualify on lifetime gains up to £10m.