CAPITAL GAINS TAX AT A GLANCE
CAPITAL GAINS TAX AT A GLANCE
Friday 10 March 1995
Annual exemption (individuals etc*) £5,800
Annual exemption (disability trusts) £5,800
Annual exemption (other trusts) £2,900
*Available separately for husband and wife
What is liable:
Investments, including shares
Land and buildings
Jewellery, pictures, antiques
Currency other than sterling
Property you create before disposing of it
Options, debts etc
What is Exempt:
Your main private residence
Foreign currency for personal expenditure abroad
Betting winnings (pools, premium bonds etc)
Government securities and certain corporate bonds
Life assurance policies and deferred annuities (where you
are the first owner or they were gifted to you)
Chattels sold for no more than £6,000
Private motor vehicles
Gifts to the National Trust
Futures and options in gilts and qualifying corporate bonds
Compensation/damages for any wrong or injury suffered
to your person or concerning your profession/vocation
Assets, eg boats and animals, that are tangible movable property, and wasting assets (expected life of less than 50 years).
Source: `How to Cut Your Tax Bill' by Walter Sinclair
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