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Capital Gains Tax: Individuals and Trustees

2014-15
Individuals etc  
Exemption 11,000
Standard Rate 18%
Higher Rate* 28%
Trusts
Exemption 5,500
Rate 28%

* For higher and additional rate taxpayers

Corporation tax on profits - £ per year (unless stated)

  Year to 31.03.14 Year to 31.03.15
  Profits Band £ Rate % Profits Band £ Rate %
Small companies' relief 0 - 300,000 20% 0 - 300,000 20%
Marginal Relief 300,001 - 1,500,000 300,001 - 1,500,000
Full Rate Over 1,500,000 23% Over 1,500,000 21%
Small Companies Fraction   3/400*   1/400*

The profits are reduced for accounting periods of less than 12 months and for a company with associated companies.

*Different rates apply for ring-fenced (broadly oil industry) profit.

Rates & Allowances

Rates and allowances for income tax, corporation tax, capital gains tax, inheritance tax and the pension scheme earnings cap are set out below.

Alexander Probin
Suite 5
125/129 Witton Street
Northwich
Cheshire
CW9 5DY
t - 01606 359008
f - 01606 359009