Capital Gains Tax


Capital gains tax rates and bands for 2012/13
On chargeable gains
Total taxable gains and income:

up to £34,370

from £34,371



Annual exemption
– individual £10,600
– most trustees £5,300
Chattels exemption
(proceeds per item or set) £6,000


Entrepreneurs’ Relief

Qualifying gains will be taxed at 10%.

Claims may be made on more than one occasion up to a “lifetime” total of £10 million.


  1. Transfers between husband and wife or civil partners living together are generally exempt.
  2. Capital gains of all trusts for 2012/13 are taxed at the rate of 28%. Where there are several trusts created by the same settlor, the annual exemption is divided equally between them, subject to a minimum exemption of £1,060 for each trust.