Capital Gains Tax
Tax arising on the disposal of your assets, by way of gift or sale, at full vale or at an undervalue -
whether situated in the United Kingdom or elsewhere.
| 2005-06 | 2004-05 | ||
| Taxed as top slice of savings income | Up tp 40% | ||
| Annual exemption - individual | £8,500 | £8,200 | |
| -settlement(s) | £4,250 | £4,100 |
Taper relief | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Years held from 6 April 1998 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Business assets % relief* | 50 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 |
| Non-business assets % relief | 0 | 0 | 5 | 10 | 15 | 20 | 25 | 30 | 35 | 40 |