You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
CGT and Inheritance tax.
Capital Gains Tax (CGT) is payable by individuals, trustees and 'personal representatives' (PRs). Companies pay corporation tax on their capital gains.
There are annual tax free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
For individuals net gains are added to 'total taxable income' to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income do not exceed the 'basic rate band'.
Gains which qualify for 'Investors' Relief' are charged at 18% (14% for 2025/26) for the first £10m of qualifying gains.
Gains which qualify for 'Business Asset Disposal Relief' are charged at 18% (14% for 2025/26) for the first £1 million.
The higher rate applies to higher rate and additional rate taxpayers.
Why not get in touch with Quarter Chartered Accountants today for more information.
The rapid adoption of AI is driving a sharp decline in entry-level jobs and worsening the long-standing UK challenge of skills shortages, warns the British Chambers of Commerce (BCC).
Business leader optimism over prospects for the UK economy is at a record low after the outbreak of war in the Middle East, according to the Institute of Directors (IoD).