Capital Gains Tax (CGT)
23 June 2010
Following the Budget on 22nd June 2010, the basis of CGT for UK taxpayers has changed for Higher Rate Tax payers. Gains arising on or after 23rd June 2010 will be treated as the top slice of income and taxed at marginal rates (18% up to the higher rate threshold, and 28% above).
Entrepreneurs' relief of 10% for gains on business assets is available, with a lifetime limit of GBP5mm.
The annual £10,100 CGT allowance remains static.
