Rates 2000/2001 1999/2000
Individuals (as top slice of income) 40% (to 28,400 pounds)
Trusts where settlor or spouse retains interest As settlor’s gain As settlor’s gain
Other trusts and personal representatives 34% 34%
Married couples  (unless permanenty seperated)
Transfers between spouses   No tax effect No tax effect
Individuals  7,200 pounds  7,100 pounds
Trusts 3,600 pounds   3,550 pounds
Main home    Unlimited    Unlimited
Chattles-Per items 6,000 pounds   6,000 pounds
– Alternaive charge 5/3 excess over 6,000 pounds
Retirement Relief
For business and holdings of 5% or more in qualifing trading companies. For disposal if age 50 or over ( or ill health):
2000/2001  1999/2000
Exempt  up to 150,000 pounds up to 200,000
50% Taxable  150,000-600,000 pounds  200,001-800,000 pounds
Indexation Relief
For individuals indexation relief is avilible up to April 1998.

 Taper Relief – reduction in chargable gains

Business assests

Sold before 6.4.00 – 7.5 for each complete year asset is held after 5.4.98 plus one year if held on 16.3.98.
Sold after 5.4.2000 -12.5% for each of the first two complete years asset held after 5.4.98, 25%for each of the following two years.

Other Assets
5% forthe third and each of the following compete year assets held after 5.4.98  plus one year if held on 16.3.98. Maximum relief reached after 10years

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