Capital Gains Tax – Rates and Entrepreneurs’ Relief

From 23 June 2010 there will be two main rates of CGT, 18% and 28%, in place of the single rate of 18% for all gains. The rate paid by individuals will depend upon the amount of their total taxable income. Gains qualifying for entrepreneurs’ relief will be taxed at a rate of 10%, and the lifetime limit of gains qualifying for entrepreneurs’ relief will be raised to £5 million (from the previous figure of £2 million). Gains of trustees or personal representatives of deceased persons will be charged at 28%.