Tax Facts 2008/9
Capital gains, inheritance, stamp duty and stamp duty land tax
| CAPITAL GAINS TAX | ||
|---|---|---|
| 200/10 | 2008/09 | |
| Individuals | £ | £ |
| Exemption | 10,100 | 9,600 |
| Balance of Gains | 18% | 18% |
| Trusts | ||
| Exemption | 5,050 | 4,800 |
| Balance of Gains | 18% | 18% |
|
Entrepreneurs’ Relief |
||
| INHERITANCE TAX | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Death | Lifetime | Chargeable transfers | |||||||||||||||
| rate | rate | 2009/10 | 2008/09 | ||||||||||||||
| % | % | £'000's | £'000's | ||||||||||||||
| Nil | Nil | 0 - 325* | 0 - 312* | ||||||||||||||
| 40 | 20 | Over 325* | Over 312* | ||||||||||||||
| *Potentially increased for surviving spouses or civil partners who die on or after 9 October 2007. | |||||||||||||||||
| Reliefs | |||||||||||||||||
| Annual Exemption | £3000 | Marriage | parent | £5,000 | |||||||||||||
| Small gifts | £250 | grandparent | £2,500 | ||||||||||||||
| bride/groom | £2,500 | ||||||||||||||||
| other | £1,000 | ||||||||||||||||
| Reduced charge on gifts within seven years of death | |||||||||||||||||
|
|||||||||||||||||
| STAMP DUTY & STAMP DUTY LAND TAX | ||||
|---|---|---|---|---|
| Land and buildings (on full consideration paid) | ||||
| Rate | Residential property* | Non-residential | ||
| Disadvantaged areas | Other | |||
| £ | £ | £ | ||
| Nil | 0 - 150,000* | 0 - 125,000* | 0 - 150,000 | |
| 1% | 150,001* - 250,000 | 125,001* - 250,000 | 150,001 - 250,000 | |
| 3% | 250,001 - 500,000 | 250,001 - 500,000 | 250,001 - 500,000 | |
| 4% | Over 500,000 | Over 500,000 | Over 500,000 | |
* £175,000 for transactions with an effective date on or after 3rd September 2008 and before 1st January 2010 Shares and securities - rate 0.5% |
||||
Disclaimer
The information in this tax card is based upon the 2009 Budget and other earlier announcements and may be subject to amendment by the Finance Act.