UK Capital Gains Tax now 18%

Discussion in 'Taxes and Accounting' started by Businessman, Oct 9, 2007.

  1. From April the UK capital gains tax rate will be a flat 18% regardless of your income.

    And the first 10K GBP of any gains are still tax free.

    This is great news for UK traders, even speculative futures and option trading is taxed as capital gains in the UK.
  2. just21


    The details are not out yet but the rumour is they have got rid of indexation so for assets held for a long time the rate is increasing as taper relief and indexation could get the rate down to 5%.
  3. Yeah its bad news for investors holding an asset for several years.

    But for short term traders it should be good news. As the rate they pay now is as much as 40%.