Budget 2009


Personal Income Tax

Tax Credits

National Insurance Contributions


Savings & Investments

Capital Gains Tax

Stamp Duty Land Tax

Inheritance Tax

Corporation Tax

Business Tax

Value Added Tax

Other Measures

Tax Tables

National Insurance

Capital Gains Tax

Annual exemption and rate

The annual exempt amount for CGT rises from £9,600 to £10,100. Most trusts enjoy half the personal exemption (£5,050). The rate of CGT remains unchanged at 18% on net gains after reliefs, losses and the annual exemption. Entrepreneurs' Relief reduces the rate to 10% on the first £1m of gains on disposals of qualifying business assets.

Agricultural property

Holdover relief allows someone who gives away agricultural property to pass on the CGT charge on the gift to the donee. Up to now, the relief has only been available for land situated in the UK. From 22 April 2009, land anywhere in the European Economic Area can qualify.

Tax Tip
CGT rates are low: consider investing for gains, not income.

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