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Capital Gains Tax for 2018/19

Capital Gains Tax for 2018/19

Capital Gains Tax (CGT) is the tax a person has to pay on the gains/profit earned when an asset has been sold/disposed. CGT is only paid when the overall profit is more than the tax free allowance referred to as Annual Exempt Amount (AEA). For the year 2018/19, the Annual Exempt Amount for individuals and personal representatives is £11,700 and AEA for trusts is £5,850 (based on the announcements of the Autumn Budget 2017)

Tax year 2018/19 Tax year 2017/18
Annual exempt amount (AEA) for individuals and personal representatives £11,700 £11,300
AEA for most trustees £5,850 £5,650
Main rate for trustees and personal representatives 20% 20%
Rate for trustees and personal representatives (for gains on residential property not eligible for Private Residence Relief) 28% 28%
Main rates for individuals 10% / 20% 10% / 20%
Rates for individuals (for gains on residential property not eligible for Private Residence Relief, and carried interest) 18% / 28% 18% / 28%

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