You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
Tel: 01908 566362 - Email: [email protected]
We offer a range of high quality accounting, financial and business services in and around Milton Keynes.
Capital Gains Tax (CGT) is payable by individuals, trustees and 'personal representatives' (PRs). Companies pay corporation tax on their capital gains.
There are annual tax free allowances (the 'annual exempt amount') for individuals, trustees and PRs. Companies do not have an annual exempt amount.
For individuals net gains are added to 'total taxable income' to determine the appropriate rate of tax. The standard rate applies only to the net gains which, when added to total taxable income do not exceed the 'basic rate band'.
Gains which qualify for 'Investors' Relief' are charged at 10% for the first £10m of qualifying gains.
Gains which qualify for 'Entrepreneurs' Relief' are charged at 10% for the first £1 million.
The higher rate applies to higher rate and additional rate taxpayers.
Additionally, higher rates of 18% and 24% may apply to the disposal of certain residential property.
Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.
Learn more
Our handy tax calendar provides an overview of the key tax dates for your diary.
B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.
Keep up to date on the latest from the world of business and tax with our daily news stories.
02 May 2024
Optimism amongst UK business leaders in regard to the UK economy rose in April 2024, data published by the Institute of Directors (IoD) has revealed.
01 May 2024
The British Chambers of Commerce (BCC) is concerned over the impact of new customs checks and charges on small firms in the UK.
30 Apr 2024
HMRC has launched a new online voluntary national insurance payment service.
29 Apr 2024
The Federation of Small Businesses (FSB) has called on the energy regulator Ofgem to 'take action' on the standing charges paid by UK small firms.