Tax rates & allowances

Capital Gains Tax

  2019/20 2018/19
Annual exemption
Individuals, estates £12,000 £11,700
Most trusts 6,000 5,850
Tax rate
Individual (to basic rate limit)* 10% 10%
Individual (above basic rate limit)* 20% 20%
Trusts, estates* 20% 20%
Entrepreneurs' Relief (ER)** 10% 10%
Investors' Relief (IR)*** 10% N/A

*Individuals are taxed at 18%/28% on gains on residential property and receipts of carried interest. Trusts and estates are taxed at 28% in these circumstances.

**ER is available for lifetime gains of up to £10m. Qualifying disposals include a trading business and shares in a trading company (from a minimum 5% holding) by an officer/employee. Various conditions apply.

***Shares in an unquoted trading company may qualify for IR on lifetime gains up to £10m, if acquired by someone who is not a paid officer or employee of the company and disposed of after 5.4.19. Various conditions apply.

Tax rates 2019-2020PDF document