2016/17 Capital Gains Tax
|On chargable gains||2016-17|
|Total taxable income and gains upto £32,000||10%|
|Total taxable income and gains from £32,001||20%|
Higher rates may apply to the disposal of certain residential property.
Qualifying gains will be taxed at 10%. Claims may be made on more than one occasion up to a “lifetime” total of £10 million.
Annual exempt amount – individuals £11,100 and most trusts £5,550