Effective rates of CGT in 2008/2009 after new Entrepreneurs relief has been claimed
This table illustrates the CGT payable and the effective rate of CGT you would be paying to illustrate the tax savings available from claiming this relief.
Bear in mind that if no Entrepreneurs relief is claimed any gain would be taxed at an effective 18%.
Any gain less than £1,000,000 would be taxed at the effective 10% rate.
|Effective rates of CGT after Entrepreneurs relief|
|Gain||Capital Gains Tax||Effective CGT rate (%)|
About the AuthorThe Author of this article/answer is our site Editor, Lee Hadnum. Lee is a rarity among tax advisers having both legal and chartered accountant qualifications. After qualifying a prize winner in the Institute of Chartered Accountants exams, he also went on to become a chartered tax adviser (CTA).
He worked in Ernst & Youngs Entrepreneurial Services department for a number of years before setting up his own tax planning practice. He is now a full time tax author.
i) Please note that the articles/answers contain general guidance only and do not constitute accountancy, tax, investment or other professional advice.
ii) The contents of this article/answer are for information only and are intended to assist readers in identify any tax planning opportunities that may be available to them. The information contained in this answer is not intended to be a substitute for taking proper taxation advice and should not be relied upon in this way. Always consult a qualified accountant or taxation adviser. Your situation will then be looked at individually and specific advice relevant to your circumstances can be given. The Expert does not accept responsibility for any loss arising as a result of reliance on any information contained in this answer.
These Notes (and Disclaimer) do not affect your statutory rights in the United Kingdom.