| 2017/18** | 2016/17** | ||
|---|---|---|---|
| Tax rate | Individuals: | ||
| Higher or additional rate taxpayer* | 28% | 28% | |
| Others | 18% | 18% | |
| Trusts† and personal representatives | 28% | 28% | |
| Companies | see CT rates | see CT rates | |
| Annual exemptions | |||
| Individuals | £11,300 | £11,100 | |
| Trusts (maximum) | £5,650 | £5,550 | |
| Chattels proceeds exemption | £6,000 | £6,000 | |
| Capital Gains Tax Entrepreneurs’ Relief# | £10 million | £10 million |
*For higher and additional rate taxpayers
** Higher rates (18/28%) may apply to the disposal of certain residential property and carried interest.
† If settlor retains interest or may benefit, tax at settlor’s rate instead.
Special rules may apply for offshore trusts.
# The first £10 million of gains arising in connection with disposals of whole or part of a business, reduced by 4/9ths, giving a tax rate of 10% for basic rate taxpayers. For trading businesses and companies (minimum 5% employee/director shareholding held for at least 1 year).
