Taxation of Chargeable Gains Act 1992 section 1H

The main rates of CGT

Section 1H sets out the main rates at which capital gains tax is charged on individuals, personal representatives and trustees, and defines carried interest gains.

• Chargeable gains (other than carried interest gains) accruing to individuals are taxed at either 18% or 24%, depending on whether the gain falls within or above the unused basic rate band
• Carried interest gains accruing to individuals, or to personal representatives of deceased individuals, are taxed at a flat rate of 32%
• Other chargeable gains accruing to personal representatives of deceased individuals, and to trustees of settlements, are taxed at a flat rate of 24%
• Special reduced rates of 14% apply where business asset disposal relief or investors' relief is available, overriding the main rates