Capital Gains Tax Summary
| 2008-09 | |
| On chargeable gains | 18% |
Entrepreneurs' relief
This will reduce the chargeable gain on qualifying assets by 4/9 - an effective rate of 10%.
An individual will be able to make claims for disposals on or after 6 April 2008.
Claims may be made on more than one occasion, up to a "lifetime" total of £1 million of gains.
| Annual exempt amount | - individuals | £9,600 |
| - most trustees | £4,800 |
Transfers between spouses and civil partners are generally exempt.
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