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A capital gains tax line graph

Get the most from your capital gains

Re-selling non-inventory assets can require the payment of capital gains tax, if the original purchase cost was lower than the amount you sold or are selling it for. It normally affects the sale of stock, bonds, property, and even precious metals due to their high value. The number of state legislated fiscal obligations makes capital gains tax an area that needs careful consideration.

The standard rate of capital gains tax can be upwards of 18%. If you’re selling multiple assets this can take a huge chunk out of the amount of money that you could make. It’s therefore worth having a Chartered Accountant on standby to minimise the impact it will have on your finances.

Capital gains tax rates and bands are as follows:

  2014/15 2013/14
Standard rate 18% 18%
Higher rate 28% 28%
Entrepreneurs’ relief – effective rate 10% 10%
Entrepreneurs’ relief £10 mil. £10 mil.
Annual exemption    
Individual £11,000 £10,900
Settlements (spread over total number) £5,500 £5,450
Chattels exemption    
Proceeds per item or set £6000 £6000
A chartered accountant filling out a capital gains tax return

2015/16 tax year

The capital gains tax annual exemption for 2015/16 has been announced as £11,100.

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We're based in Hampton, and provide our accounting services to people across Surrey and South West London.

How much capital gains tax do you need to pay? To find out, arrange an appointment. Call 020 8979 5836

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