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
'Entrepreneurs' Relief' or
'Investors' Relief' are charged at 10% for the first £10m of qualifying gains.
04 Apr 2018
New data protection rules from General Data Protection Regulation (GDPR) will replace the Data Protection Act in the UK from 25 May 2018.
Many employers help employees with childcare costs, often by providing childcare vouchers by way of salary sacrifice.
The regulations to bring into force Making Tax Digital for VAT (MTDfV) are now law.