Autumn Budget 2017 – Capital Gains Tax

The capital gains tax (CGT) annual exempt amount will increase to £11,700 from 6 April 2018 (2017-8:£11,300) for individuals, personal representatives of deceased persons and trustees of certain settlements for the disabled. The annual exempt amount for most other trustees will be £5,850.

For capital gains above the annual exempt amount the CGT rate for basic and higher rate tax payers will remain at 10 and 20 per cent respectively.

Gains on residential properties (not qualifying as your personal private residence) and carried interest (the share of profits or gains that is paid to asset managers) will remain at the 18 and 28 per cent for basic and higher rate tax payers respectively.

The government will defer the introduction of the 30-day payment window for gains on residential property disposals until April 2020.

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