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%