At Home : Capital Gains Tax

Chappell Associates are able to advise you on all aspects of Capital Gains and help you deal quickly and effectively with the HM Revenue & Customs.

CGT is a tax levied on an individual when an asset is sold or transferred. There are a number of special exemptions such as the sale of your home or car and an annual axemption.

If you dispose of an asset and make gains over certain limits in a tax year then you could end up with a large tax bill, all capital gains should be disclosed to the Inland Revenue.

CGT is charged at 18%. Calculations can be complicated in many instances due to many reliefs and deductions.

Annual Exempt Amount	2009-10(£)	2010-11(£)
Individuals etc*	10,100
Other Trustees	5,050

* Individuals, trustees of settlements for the disabled, and personal representatives of the estate of a deceased person.