TCM4000 Reference Section | Inland Revenue Rates and Allowances |
Capital Gains Tax |
Capital gains tax annual exempt amount | 2000 - 2001 | 2001 - 2002 | ||
Individuals, trustees of settlements for the disabled, and personal representatives of the estate of a deceased person |
£7,200 | £7,500 |
The amount chargeable to CGT is added onto the top of income liable to income tax for individuals and is charged to CGT at these rates: below the starting rate limit at 10%, between the starting rate and basic rate limits at 20%, and above the basic rate limit at 40%. |
Indexation allowance Individuals and others within the charge to capital gains tax are not entitled to indexation allowance for any period after April 1998. To calculate indexation allowance up to April 1998 on disposals on or after 6 April 1998, use the table below. You work out the indexation allowance by multiplying the amount you spent by the indexation factor. |
Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
1982 | 1.047 | 1.006 | 0.992 | 0.987 | 0.986 | 0.985 | 0.987 | 0.977 | 0.967 | 0.971 | |||
1983 | 0.968 | 0.96 | 0.956 | 0.929 | 0.921 | 0.917 | 0.906 | 0.898 | 0.889 | 0.883 | 0.876 | 0.871 | |
1984 | 0.872 | 0.865 | 0.859 | 0.834 | 0.828 | 0.823 | 0.825 | 0.808 | 0.804 | 0.793 | 0.788 | 0.789 | |
1985 | 0.783 | 0.769 | 0.752 | 0.716 | 0.708 | 0.704 | 0.707 | 0.703 | 0.704 | 0.701 | 0.695 | 0.693 | |
1986 | 0.689 | 0.683 | 0.681 | 0.665 | 0.662 | 0.663 | 0.667 | 0.662 | 0.654 | 0.652 | 0.638 | 0.632 | |
1987 | 0.626 | 0.62 | 0.616 | 0.597 | 0.596 | 0.596 | 0.597 | 0.593 | 0.588 | 0.58 | 0.573 | 0.574 | |
1988 | 0.574 | 0.568 | 0.562 | 0.537 | 0.531 | 0.525 | 0.524 | 0.507 | 0.5 | 0.485 | 0.478 | 0.474 | |
1989 | 0.465 | 0.454 | 0.448 | 0.423 | 0.414 | 0.409 | 0.408 | 0.404 | 0.395 | 0.384 | 0.372 | 0.369 | |
1990 | 0.361 | 0.353 | 0.339 | 0.3 | 0.288 | 0.283 | 0.282 | 0.269 | 0.258 | 0.248 | 0.251 | 0.252 | |
1991 | 0.249 | 0.242 | 0.237 | 0.222 | 0.218 | 0.213 | 0.215 | 0.213 | 0.208 | 0.204 | 0.199 | 0.198 | |
1992 | 0.199 | 0.193 | 0.189 | 0.171 | 0.167 | 0.167 | 0.171 | 0.171 | 0.166 | 0.162 | 0.164 | 0.168 | |
1993 | 0.179 | 0.171 | 0.167 | 0.156 | 0.152 | 0.153 | 0.156 | 0.151 | 0.146 | 0.147 | 0.148 | 0.146 | |
1994 | 0.151 | 0.144 | 0.141 | 0.128 | 0.124 | 0.124 | 0.129 | 0.124 | 0.121 | 0.12 | 0.119 | 0.114 | |
1995 | 0.114 | 0.107 | 0.102 | 0.091 | 0.087 | 0.085 | 0.091 | 0.085 | 0.08 | 0.085 | 0.085 | 0.079 | |
1996 | 0.083 | 0.078 | 0.073 | 0.066 | 0.063 | 0.063 | 0.067 | 0.062 | 0.057 | 0.057 | 0.057 | 0.053 | |
1997 | 0.053 | 0.049 | 0.046 | 0.04 | 0.036 | 0.032 | 0.032 | 0.026 | 0.021 | 0.019 | 0.019 | 0.016 | |
1998 | 0.019 | 0.014 | 0.011 |
Corporation Tax on Chargeable Gains: Indexation Allowance: January 2002 The value of the retail price index, as published by the Office for National Statistics, for January 2002 is 173.3 (January 1987 = 100). The indexed rise to be used in calculating the indexation allowance in respect of assets disposed of in January 2002 is as follows: |
RI Month | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | |||
January | - | 1.098 | 0.996 | 0.9 | 0.801 | 0.733 | 0.678 | 0.561 | 0.45 | 0.331 | 0.278 | 0.257 | 0.226 | 0.187 | 0.154 | 0.122 | 0.087 | 0.061 | 0.04 | 0.013 | |||
February | - | 1.089 | 0.987 | 0.885 | 0.794 | 0.726 | 0.671 | 0.55 | 0.442 | 0.324 | 0.271 | 0.249 | 0.22 | 0.18 | 0.148 | 0.118 | 0.081 | 0.059 | 0.035 | 0.008 | |||
March | 1.181 | 1.085 | 0.981 | 0.867 | 0.792 | 0.723 | 0.665 | 0.543 | 0.428 | 0.319 | 0.268 | 0.244 | 0.216 | 0.175 | 0.144 | 0.115 | 0.078 | 0.056 | 0.029 | 0.006 | |||
April | 1.138 | 1.056 | 0.955 | 0.828 | 0.774 | 0.702 | 0.638 | 0.516 | 0.385 | 0.302 | 0.249 | 0.233 | 0.202 | 0.163 | 0.136 | 0.109 | 0.066 | 0.049 | 0.019 | 0.001 | |||
May | 1.123 | 1.048 | 0.948 | 0.82 | 0.771 | 0.701 | 0.632 | 0.507 | 0.373 | 0.298 | 0.244 | 0.228 | 0.198 | 0.158 | 0.133 | 0.105 | 0.06 | 0.046 | 0.015 | 0 | |||
June | 1.117 | 1.043 | 0.943 | 0.816 | 0.772 | 0.701 | 0.626 | 0.502 | 0.368 | 0.292 | 0.244 | 0.229 | 0.198 | 0.157 | 0.133 | 0.1 | 0.061 | 0.046 | 0.013 | 0 | |||
July | 1.117 | 1.032 | 0.945 | 0.82 | 0.777 | 0.702 | 0.624 | 0.5 | 0.367 | 0.295 | 0.249 | 0.232 | 0.203 | 0.162 | 0.137 | 0.1 | 0.063 | 0.05 | 0.016 | 0 | |||
August | 1.116 | 1.023 | 0.927 | 0.815 | 0.772 | 0.697 | 0.606 | 0.497 | 0.353 | 0.292 | 0.248 | 0.226 | 0.198 | 0.156 | 0.132 | 0.093 | 0.059 | 0.047 | 0.016 | 0 | |||
September | 1.117 | 1.014 | 0.923 | 0.816 | 0.763 | 0.692 | 0.599 | 0.486 | 0.34 | 0.288 | 0.243 | 0.221 | 0.195 | 0.151 | 0.127 | 0.088 | 0.054 | 0.043 | 0.009 | 0 | |||
October | 1.107 | 1.007 | 0.911 | 0.813 | 0.76 | 0.684 | 0.583 | 0.475 | 0.33 | 0.283 | 0.239 | 0.222 | 0.194 | 0.157 | 0.127 | 0.087 | 0.053 | 0.041 | 0.01 | 0 | |||
November | 1.096 | 1 | 0.905 | 0.807 | 0.745 | 0.676 | 0.575 | 0.462 | 0.333 | 0.278 | 0.241 | 0.224 | 0.193 | 0.157 | 0.126 | 0.086 | 0.054 | 0.04 | 0.007 | 0 | |||
December | 1.1 | 0.994 | 0.907 | 0.804 | 0.74 | 0.678 | 0.571 | 0.459 | 0.334 | 0.277 | 0.245 | 0.221 | 0.187 | 0.15 | 0.122 | 0.083 | 0.054 | 0.036 | 0.006 | 0 | |||
The RI month is the month in which the allowable expenditure was incurred, or March 1982 where the expenditure was incurred on or before 1 March 1982. The table given is applicable only to bodies within the charge to corporation tax on their chargeable gains. |
Source: HM Government Inland Revenue |