Capital gains tax

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 'Business Asset Disposal Relief' are charged at 10% for the first £1 million.

Individuals 2022/23 2021/22
Exemption £12,300 £12,300
Standard rate 10% 10%
Higher rate 20% 20%
Trusts 2022/23 2021/22
Exemption £6,150 £6,150
Rate 20% 20%

The higher rate applies to higher rate and additional rate taxpayers.

Gains accruing on the disposal of certain residential property and arising on carried interest can attract a standard rate of 18% or a higher rate of 28% for individuals and of 28% for Trusts and Personal Representatives.

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Our Offices

Rochdale
CCM | Carter, Collins & Myer, Chichester House, 2 Chichester Street, Rochdale, Lancashire OL16 2AX

01706 860255

Ashton
CCM Ashton, Shaw House, 1 Shaw St, Ashton-under-Lyne OL6 6QJ

0161 339 5689

Bolton
CCM Green & Co, Hamill House, 112-116 Chorley New Rd, Bolton BL1 4DH

01204 497247

Carlisle
CCM Carlisle Ltd, Solway House Business Centre, Parkhouse Road, Kingstown, Carlisle CA6 4BY

01228 830803


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The term ‘Board Director’ is used to refer to a statutory director and principal of Carter Collins & Myer Ltd as registered at Companies House. Any other designations that include the term ‘Partner’ or ‘Director’ are not registered statutory directors or principals and are marketing terms used to describe representatives of the company.

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