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Capital gains tax
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2010/11
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2009/10
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Exemptions
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- Individuals
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£10,100*
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£10,100 *
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- Personal representatives
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£10,100
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£10,100
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- Trusts
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£ 5,050
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£5,050
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* Nil for individuals subject to the annual charge for the remittance basis
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Rates
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- Individuals: 18%
- Personal representatives and trusts: 18%
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Entrepreneurs relief
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- From 6 April 2010: taxable gain reduceded by 4/9ths meaning liability reduced to effective rate of 10% on gains on qualifying business assets up to a maximum lifetime allowance of £2,000,000. Previously limit of £1,000,000 for gains between 6th April 2008 and 5th April 2010.
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To find out how Chapman Robinson & Moore can help your business either call 01865 379272, or click here to arrange a free Confidential Business Analysis.
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