Capital Gains Tax

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

Total taxable gains and income
up to £32,000	10%
from £32,001	20%

Annual exemption
- individuals	£11,100
- most trustees	£5,550

Chattels exemption
(proceeds per item or set)	£6,000

Note

Transfers between husband and wife or civil partners living together are generally exempt.

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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