Capital Gains Tax
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Entrepreneurs' Relief
Qualifying gains from 23 June 2010 will be taxed at 10%. Prior to that the relief took the form of a 4/9 reduction of the gain.
Claims may be made on more than one occasion up to a "lifetime" total of £5 million (£2 million 6 April 2010 to 22 June 2010, £1 million prior to 6 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 rate of 28% from 23 June 2010 (previously 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.
