|On chargeable gains||2015-16||2014-15|
|Total taxable income and gains|
|Up to £31,785 (2014-15: £31,865)||18%||18%|
|From £31,786 (2014-15: £31,866)||28%||28%|
|Annual exempt amount|
Capital gains qualifying for entrepreneurs' relief are taxed at 10%. Entrepreneurs' relief can be claimed on more than one occasion up to a "lifetime" limit of £10 million of qualifying capital gains.
Transfer of assets between spouses and civil partners
Transfers of assets between spouses and civil partners are generally not chargeable disposals for capital gains tax purposes.
|Maximum combined threshold:|
|Married couples and civil partners||£650,000||£650,000|
|Rates of Inheritance Tax:|
|Chargeable lifetime transfers||20%||20%|
|Transfers on, or within 7 years of, death||*40%||*40%|
*subject to a tapered reduction for transfers between 7 and 3 years before death
Monday - Friday
9.30 am to 5.00 pm
Clive Shedd & Co
232 Sladepool Farm Road
Birmingham B14 5EE
If you wish to make an appointment please contact us:
Tel: 0121 474 4774
Fax: 0121 474 4766
or use our contact form.