Capital Gains Tax Changes
In the recent budget changes were made to Capital Gains Tax. Changes that we expected to be made in the previous budget as we felt that the 18% rate was unsustainable.
For basic rate taxpayers the rate remains unchanged at 18%. For gains made between 6th April 2010 and 22nd June 2010 the rate charged is at 18% for higher rate taxpayers. From 23rd June 2010 the rate increased to 28%.
The CGT Exemption remains at £10,100 per person.