Budget 2010: Key points you need to know on CGT changes

Who is likely to be affected? Individuals, trustees and personal representatives of deceased persons who pay capital gains tax (CGT). General description of the measure Legislation will be included in Finance Bill 2010 to introduce a new rate of CGT of 28%. The annual exempt amount (AEA) for 2010-11 remains at the level set previously, £10,100. 1. For individuals. The rate of CGT remains 18% where total taxable gains and income are less than the upper limit of the income tax basic rate band. The 28% rate applies to gains (or any parts of gains) above that limit. 2. Fo...