JWL Accountancy Ltd
JWL Accountancy Ltd
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  • Home
  • Services
    • Accountancy
    • Probate
  • About us
    • Testimonials
    • Blog
  • Contact Us
  • Resources
    • Companies House forms
    • HMRC Forms
  • Cloud Login
    • Xero
    • Kashflow
    • Sage Online
    • Quickbooks
    • Freeagent

Individual Capital Gains

Capital Gains Tax (CGT) is payable by individuals on their capital gains.  


There are annual tax free allowances (the 'annual exempt amount') for individuals.


For individuals net gains are added to 'total taxable income' to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income do not exceed the 'basic rate band'.  


Gains which qualify for 'Investors' Relief' are charged at 10% for the first £10m of qualifying gains.


Gains which qualify for 'Business Asset Disposal Relief' are charged at 10% for the first £1 million.


The higher rate applies to higher rate and additional rate taxpayers.  


Gains accruing on the disposal of certain residential property and arising on carried interest can attract a standard rate of 18% or a higher rate of 28% for individuals and of 28% for Trusts and Personal Representatives.

Capital Gains tax 2022 2023 2024

Company Capital Gains

Companies pay corporation tax on their capital gains.


Companies do not have an annual exempt amount

Capital Gains tax 2022 2023 2024
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JWL Accountancy

Rugeley, Staffordshire

01889 597839

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