index
Tax tables 2007-08
Capital Gains Tax
| Exemptions |
| |
07-08 |
06-07 |
| Individuals, estates, etc. |
£9,200 |
£8,800 |
| Trusts generally |
£4,600 |
£4,400 |
| Chattels ( 5/3 taxable on excess gain
proceeds) |
£6,000 |
£6,000 |
| Rates |
| |
07-08 |
06-07 |
| Individuals |
As savings rates |
| Trusts and estates |
40% |
40% |
| Taper Relief for 06-08 |
| Percentage of gain chargeable is based on the number of complete years an asset is owned after 05.04.98. |
| Years owned |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| Business Assets |
50 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
| Other Assets* |
100 |
100 |
95 |
90 |
85 |
80 |
75 |
70 |
65 |
60 |
© Copyright 21 March 2007, subject to Finance Act 2007. For information only. Always seek professional advice before acting.
