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J Allen & Co Chartered Accountants, Registered Auditors, Business & Tax Advisers |
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"Its About Adding Value To Your Business Not Just Adding Up Numbers"
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Tax Rates |
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Capital Taxes
All lifetime transfers not covered by exemptions and made within 7 years of death will be added back into the estate for the purposes of calculating the tax payable. This may then be reduced:
Years Tax before Reduced Death By
0-3 0% 3-4 20% 4-5 40% 5-6 60% 6-7 80% |
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Phone: 0845-094-5354 Fax: 0870-803-3843 E-mail: info@jallen-accountants.co.uk |
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Tax Rates Pages |
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Capital Gains Tax |
2011/12 |
2010/11 |
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Capital gains tax rate |
18% |
18% |
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Capital gains tax higher rate |
28% |
28% |
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Entrepreneurs’ relief - effective rate |
10% |
10% |
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Entrepreneurs’ relief - lifetime limit |
£10,000,000 |
£5,000,000 |
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Annual Exemption |
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Individual |
£10,600 |
£10,100 |
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Settlement |
£5,300 |
£5,050 |
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Inheritance Tax |
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Nil rate band |
£325,000 |
£325,000 |
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Combined threshold maximum for married couples and civil partners |
£650,000 |
£650,000 |
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Chargeable rate on lifetime transfers |
20% |
20% |
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Rate on transfers on or within 7 years of death |
40% |
40% |