Budget summary 2017

Capital Gains Tax

Rates

The annual exempt amount rises for 2017/18 from £11,100 to £11,300. The rates of tax are unchanged at 10% (total income and gains within the taxpayer's basic rate limit) or 20% (gains above the basic rate limit) on assets in general, but 18% or 28% on residential property that is not eligible for the main residence exemption.

Most trusts enjoy half the annual exempt amount (£5,650) and pay tax at 20% or 28% on chargeable gains.

No other changes were announced to CGT.

Budget summary 2017PDF document