Tax rates and bands

2020/21

Individuals 2020/21
Exemption  £12,300
 Standard rate 10%
 Higher/additional rate  20%
Trusts 2020/21
Exemption  £6,150
 Rate 20%

2019/20

Individuals 2019/20
Exemption  £12,000
 Standard rate 10%
 Higher/additional rate  20%
Trusts 2019/20
Exemption  £6,000
 Rate 20%


Higher rates (18/28%) may apply to the disposal of certain residential property and carried interest.

Entrepreneurs’ relief and Investors’ relief

The first £10m. of qualifying gains are charged at 10%.  Gains in excess of the limit are charged at the rates detailed above.

Rates subject to change – contact us for latest. For general guidance only, no responsibility is taken for action taken or refrained from in consequence of the information provided on this website.

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