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HMRC internal manual

Capital Gains Manual

Introduction and computation: annual exempt amount: introduction: Annual exempt amount: quantum

The quantum of the exempt amount has varied over the years. In 1982 the amount of the exemption was statutorily linked to the Retail Prices Index. The Treasury are required to make an order by Statutory Instrument before each tax year specifying the exempt amount for that year. The amounts so specified can subsequently be varied by Parliament.