tax table
capital gains allowances and taper relief
| Description | Allowance |
|---|---|
| Annual Exemption (Individuals) – 2006/2007 | £8,800 |
| Annual Exemption (Individuals) – 2005/2006 | £8,500 |
| Annual Exemption (Trusts) – 2006/2007 | £4,400 |
| Annual Exemption (Trusts) – 2005/2006 | £4,250 |
| Chattels Exemption | £6,000 |
| Gains of Charities | Exempt |
| Compensation | Exempt |
| Decorations for Valour | Exempt |
| Transfer of asset to spouse/civil partner | Exempt |
| Motor Vehicles | Exempt |
| Principal Private Residence | Exempt |
| Business Assets | Non Business Assets | ||
|---|---|---|---|
| Number of complete years after 5.4.98 for which asset held | % of Gain Chargeable |
Number of complete years after 5.4.98 for which asset held |
% of Gain Chargeable |
| 0 | 100% |
0 |
100% |
| 1 | 50% |
1 |
100% |
| 2 or more | 25% |
2 |
100% |
3 |
95% |
||
4 |
90% |
||
5 |
85% |
||
6 |
80% |
||
7 |
75% |
||
8 |
70% |
||
9 |
65% |
||
10 or more |
60% |
||
1 googol:
1 followed by
100 zeros
