CG10246 - Capital Gains Tax: rates of tax

TCGA92/S4 & TCGA92/S6

For individuals making disposals up to 5 April 2008, the chargeable amount for a year of assessment, after taking account of losses and the annual exempt amount, is in effect added to income for tax purposes, and charged to tax at the same rates as if it was the top slice of income. This rule is modified where dividend income is received, see CG21040+. Unused Income Tax reliefs and allowances cannot be set against these net gains.

TCGA92S4 as amended by FA08/S8

For individuals making disposals on or after 6 April 2008, the chargeable amount for a year of assessment, after taking account of losses and the annual exempt amount, is simply charged to capital gains tax at the rate in force at the time.