Capital
Gains Tax
|
2000-2001 |
99-00 |
| Exemptions |
|
|
| Individuals, personal
representatives, etc. |
£7,200 |
£7,100 |
| Trusts generally |
£3,600 |
£3,550 |
| Chattels (5/3 taxable
on excess) |
£6,000 |
£6,000 |
Taper
Relief for disposals of business assets after 6.4.00
the new additional year for assets held at 17.3.98 to be consolidated into
the new 4 year taper relief as below.*
| Years
owned |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| Business
Assets |
87.5 |
75 |
50 |
25 |
- |
- |
- |
- |
- |
- |
| Other
Assets |
100 |
100 |
95 |
90 |
85 |
80 |
75 |
70 |
65 |
60 |
*One year's extra taper
relief for non-business assets owned before 17 March 1998
Retirement Relief from age 50, or earlier ill-health, is being phased
out and will cease from 4.4.03 as taper relief increases in value.
| Disposal
year |
100%
relief limit |
50%
relief limit |
| 1999/2000 |
£ 200,000 |
£ 200,001
- £ 800,000 |
| 2000/2001 |
£ 150,000 |
£ 150,001
- £ 600,000 |
| 2001/2002 |
£ 100,000 |
£ 100,001
- £ 400,000 |
| 2002/2003 |
£ 50,000 |
£ 50,001
- £ 200,000 |
| Tax
Rates Individuals: as savings tax rates. |
Estates
and certain trusts: 34% |
March
2000 Subject to Finance Act 2000
