2019/202018/19
Annual exemption
Individuals, estates£12,000£11,700
Most trusts6,0005,850
Tax rate
Individual (to basic rate limit)*10%10%
Individual (above basic rate limit)*20%20%
Trusts, estates*20%20%
Entrepreneurs’ Relief (ER)**10%10%
Investors’ Relief (IR)***10%N/A

*Individuals are taxed at 18%/28% on gains on residential property and receipts of carried interest. Trusts and estates are taxed at 28% in these circumstances.

**ER is available for lifetime gains of up to £10m. Qualifying disposals include a trading business and shares in a trading company (from a minimum 5% holding) by an officer/employee. Various conditions apply.

***Shares in an unquoted trading company may qualify for IR on lifetime gains up to £10m, if acquired by someone who is not a paid officer or employee of the company and disposed of after 5.4.19. Various conditions apply.