Tax rates and bands
2022/23
| Individuals | 2022/23 |
|---|---|
| Exemption | £12,300 |
| Standard rate | 10% |
| Higher/additional rate | 20% |
| Trusts | 2022/23 |
|---|---|
| Exemption | £6,150 |
| Rate | 20% |
2021/22
| Individuals | 2021/22 |
|---|---|
| Exemption | £12,300 |
| Standard rate | 10% |
| Higher/additional rate | 20% |
| Trusts | 2019/20 |
|---|---|
| Exemption | £6,150 |
| Rate | 20% |
Higher rates (18/28%) may apply to the disposal of certain residential property and carried interest.
Business Asset Disposal Relief
The first £1m. 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.
