Capital Gains Tax
| Exemptions | 2007/08 | 2006/07 |
| Individuals, estates, etc | £9,200 | £8,800 |
| Trusts generally | £4,600 | £4,400 |
| Chattels proceeds ( 5/3excess gain is taxable) | £6,000 | £6,000 |
| Rates | ||
| Individuals | As savings rates | |
| Trusts and estates | 40% | 40% |
| Taper Relief for 2006-08 | ||
| Percentage of gain chargeable is based on the number of complete years an asset is owned after 5/4/98 | ||
| 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 |
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© Copyright 21 March 2007, subject to Finance Act 2007. For information only. Always seek professional advice before acting.