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Tax Tables
Capital Gains Tax
| Exemptions | 08-09 | 07-08 |
| Individuals, estates, etc. | £9,600 | £9,200 |
| Trusts generally | £4,800 | £4,600 |
| Chattels ( 5/3 taxable on excess gain proceeds) | £6,000 | £6,000 |
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Rates
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| Individuals | 18% |
10%, 20% or 40%
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| Trusts and estates | 18% | 40% |
Entrepreneurs' Relief 2008/09:
4/9ths of business gain (effective tax rate of 10%). Lifetime limit: £1,000,000
For trading businesses and companies (min. 5% employee/director shareholding) held for at least one year
| Taper Relief for 07-08: | Percentage of gain chargeable is based on the number of complete years an asset is owned after 5/4/98 | ||||||||||
| 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 | |
| * One year's extra relief for other assets owned before 17/3/98 | |||||||||||
© Copyright March 2008, subject to Finance Act 2008. For information only.
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