Capital Gains Tax
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Entrepreneurs' Relief
This reduces an individual’s chargeable gain on qualifying assets by 4/9 – an effective rate of 10%. Claims may be made on more than one occasion, up to a “lifetime” total of £2 million (£1 million to 5 April 2010).
Notes
- Transfers between husband and wife or civil partners living together are generally exempt.
- Capital gains of all trusts for 2010/11 are taxed at the standard rate of 18%. Where there are several trusts created by the same settlor, the annual exemption is divided equally between them, subject to a minimum exemption of £1,010 for each trust.
