| Capital gains tax |
|
2013/2014 |
2012/2013 |
| Annual exemption |
10,900 |
10,600 |
|
| – most trusts |
5,450 |
5,300 |
|
| Basic rate |
18% |
18% |
|
|
Higher rate (also applies to trustees |
|
|
|
| and personal representatives) |
28% |
28% |
|
| Entrepreneurs’ relief |
|
|
|
| – lifetime limit |
£10 million |
£10 m |
|
| – rate of tax |
10% |
10% |
|