TAX
TABLES 2008
Capital
Gains Tax
| Individuals,
estates, etc. |
£9,600 |
£9,200 |
| Trusts
generally |
£4,800 |
£4,600 |
| Chattels
(5/3 taxable
on excess gain proceeds) |
£6,000 |
£6,000 |
|
| Individuals |
18% |
10,
20 or 40% |
| Trusts
and estates |
18% |
40% |
|
Entrepreneur’s
Relief 08-09
4/9ths of gain (effective tax rate of 10%).
Lifetime limit: £1,000,000
For trading businesses & companies (min.
5% employee shareholding) held for 1 yr+
| Taper
Relief for 07-08 Percentage of gain
chargeable |
| Years
owned |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| Business
Assets |
50 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
25 |
| Other
Assets * |
100 |
100 |
95 |
90 |
85 |
80 |
75 |
70 |
65 |
60 |
|
*
One year's extra relief for other assets owned
before 17.3.98
©
Copyright 12 March 2008, subject to Finance
Act 2008. For information only. Always seek
professional advice before acting.
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