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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Personal representatives: rates of charge

TCGA92/S4 (1) & TCGA92/S4 (1AA)

For 1998-99 to 2007-08 TCGA92/S4 (1AA) charges personal representatives at `the rate applicable to trusts’, see CG35210. For the years 1998-99 to 2003-04 inclusive the rate is 34 per cent. For 2004-05 to 2007-08 the rate is 40 per cent.

For 2008-09 and 2009-10 TCGA92/S4 charges personal representatives at the Capital Gains Tax rate of 18 per cent.

For 2010-11 Finance (No 2) Act 2010 amended TCGA92/S4. The rate of Capital Gains Tax depends on when the disposal occurred. Disposals made on or before 22 June 2010 are charged at 18 per cent. Disposals made on or after 23 June 2010 are taxed at 28 per cent.

For 2011-12 onwards gains are taxed at 28 per cent.

For 2016-17 onwards upper rate gains are taxed at 28 per cent and other gains are at 20 per cent see CG10246.

For the annual exempt amount see CG30600+.