Tax Rates 2009/10
Introduction
Income Tax
Capital Gains Tax
Corporation tax
Main Capital Allowances
VAT
Inheritance Tax
Vehicle Benefits
Mileage Allowances
NI Contributions
Key Dates and Deadlines
Pension Premiums
Charitable Giving
Savings & Investment
Some Useful Rates
Stamp Taxes

Capital Gains Tax


Capital gains tax rates and bands are as follows:
  2009/10 2008/09
On chargeable gains 18% 18%
Annual exemption    
- individual £10,100 £9,600
- settlement(s) (spread over total number) £5,050 £4,800
 
Chattels exemption    
(proceeds per item or set) £6,000 £6,000

Entrepreneurs' Relief

This relief will reduce the chargeable gain on qualifying assets by 4/9, resulting in 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.

Notes

  1. Transfers between husband and wife or civil partners living together are generally exempt.
  2. Capital gains of all trusts for 2009/10 are taxed at the standard rate of 18%. Where there are several trusts created by the same settlor, the annual exemption is divided equally between them, subject to a minimum exemption of £1,010 (2008/09 £960) for each trust.