Capital gains tax

Standard and higher rates of capital gains tax (CGT) together with the annual exemption. The special rate of CGT and the limit applying for entrepreneurs’ relief purposes.

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 10% for the first £10m of qualifying gains.

Gains which qualify for 'Entrepreneurs' Relief' are charged at 10% for the first £1 million.

Individuals 2024/25 (until 29/10/24) 2024/25 (from 30/10/24)
Exemption £3,000 £3,000
Standard rate 10% 18%
Higher rate 20% 24%

The higher rate applies to higher rate and additional rate taxpayers.

Additionally, prior to 30 October 2024 higher rates of 18% and 24% may apply to the disposal of certain residential property.

Trusts 2024/25 (until 29/10/24) 2024/25 (from 30/10/24)
Exemption £1,500 £1,500
Rate 20% 24%
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Sheen Stickland, 2 Oriel Court, Omega Park, Alton, Hampshire GU34 2YT
Sheen Stickland, 7 East Pallant, Chichester, West Sussex PO19 1TR
Sheen Stickland, The Engine House, 77 Station Road, Petersfield, Hampshire GU32 3FQ

Sheen Stickland is the trading name of Sheen Stickland LLP and Sheen Stickland Audit Ltd

Sheen Stickland LLP is a Limited Liability Partnership Registered in England. Number OC 313253 Reg Off: 2 Oriel Court, Omega Park, Alton, Hampshire, GU34 2YT

Partners: David Sanders, Philip Sharpe, Paul Wright, Paula Joyce, Sticklands Ltd

Not all the partners are members of Sheen Stickland LLP. A list of members of Sheen Stickland LLP is available from the Registered Office

Audit & related services are provided by Sheen Stickland Audit Ltd Registered in England. Number 02223334 Reg Off: 2 Oriel Court, Omega Park, Alton, Hampshire, GU34 2YT

Sheen Stickland Audit Ltd is registered to carry on audit work in the UK & Ireland and Sheen Stickland LLP is regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales