| Rates |
2014/15 |
2013/14 |
| Tax rates - individuals |
|
|
| Gains up to basic rate limit |
18% |
18% |
| Gains above basic rate limit |
28% |
28% |
| |
|
|
| Tax rate - trusts and estates |
28% |
28% |
| |
|
|
| Exemptions |
|
|
| Individuals, estates, etc |
£11,000 |
£10,900 |
| Trusts generally |
£5,500 |
£5,450 |
| Chattels exemptions: proceeds up to |
£6,000 |
£6,000 |
| Maximum chargeable gains 5/3rds of excess proceeds over limit |
| |
|
|
| Entrepreneurs’ relief* |
|
|
| Gains taxed at 10% up to lifetime limit of: |
£10,000,000 |
£10,000,000 |
| |
|
|
| * For trading businesses and companies (minimum 5% employee/director shareholding) held for at least one year. |
