Request a Quote

Please complete the form below, we’d love to hear from you!

Capital Gains Tax - £10,900 tax-free gains

Taxing realised gains.

Ordinarily, each person is entitled to make a gain tax free up to £10,900 (or up to £5,450 for trusts). Thereafter gains are taxed at a rate that is income dependent. Where taxable income is less than £32,010 the capital gains tax rate for gains up to the spare basic rate band allowance is 18 per cent. Thereafter this rises to 28 per cent. The rate applicable to a trust is 28 per cent. For business owners entrepreneurs' relief gives rise to a lower rate of 10 per cent for qualifying gains, which provides for a maximum reduction in tax of £1,800,000 (if the gain were £10 million, the current upper limit).

Planning pointers
What tax can be saved by maximising the advantage of family member tax-free exemptions? Should an asset that is going to be sold in the future be transferred into joint names? If a gain is going to be realised, are there other assets which are standing at a capital loss that can be used to reduce the quantum of your gains? If tax is due, are there ways of deferring or rolling over the gain?

If you have any questions or queries relating to Capital Gains Tax, please get in touch.

Next Event / Workshop

There are no upcoming events.

  • BW Medical Accountants have a good working knowledge of General Practice and are keenly aware of the challenges Practices face within the changing environment of the NHS.  We have been very impressed by the way BW Medical continue to deliver the range of services they provide from Accounts to Tax and NHS Pension advice. 

    We have found Practice consultation and engagement from BW Medical specifically helpful to shape the future of the Practice.

    GP Partner
    GP Practice, Newcastle
  • We had no hesitation in moving to BW Medical Accountants.  For any business your accountant is integral, and for us one of the most important factors to this relationship is to have a personal and trusting approach, which BW have undoubtedly achieved. 

    The service we receive and the interest they show in our practice assures us that they have a genuine interest in us and commitment to us.  More importantly they are always helpful and polite to answer even the dumbest of questions!  They give us confidence and reassurance knowing that they are always very up-to-date with all the numerous changes within general practice and we would have no hesitation in recommending them to other practices seeking a professional and personal accountancy service.

    Jackie Rotherham, Practice Manager
    The James Street Family Practice, Lincolnshire
  • We changed to BW Medical Accountants and I would say we have just had the most transparent and understandable end of year meeting and the best planning advice I have ever had in 16 years of practice.

    GP Partner

Newsletter Signup