Email: info@taxreturn.co.uk



Please find below details of the new tax rates and allowances

which are applicable for the year commencing April, 2016.


Please do not hesitate to contact us if you would like further information

or you wish to discuss any of the tax rates or allowances in more detail.


                                 

Capital Gains Tax

Capital gains tax rates and bands for 2016/17
On chargeable gains  

Total taxable income and gains:
       up to £32,000
       from £32,001

 
10%
20%
Annual exemption  
- individual £11,100
- most trustees £5,550
Transfers between husband and wife or civil partners living together are generally exempt.
Chattels exemption  
(proceeds per item or set) £6,000

Entrepreneurs' Relief

Qualifying gains will be taxed at 10%.

Claims may be made on more than one occasion up to a lifetime total of £10 million.

 

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