Tax tables 2012-13

These tables reflect announcements made between December 2011 and March 2012. For more detail on these rates, see Tables confirming tax and tax credit rates and thresholds for 2012-13 (57kb PDF)

Income tax, capital gains tax, and inheritance tax

Per year

2011-12

Continued...

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Comments

Annual exempt amount for CGT    1 thanks

tim hervey | | Permalink

SI 2012/881 was laid on 20 March, published yesterday. This confirms the AEA for 2012/13 is £11,200.

But the various tables published as part of the Budget material incorrectly show the AEA for 2012/13 as £10,600 - the same as for 2011/12

45% Tax rate    1 thanks

Judruff | | Permalink

 

The cut applies to 2012/13, not 2013/14

 

John Stokdyk's picture

Very interesting - thanks

John Stokdyk | | Permalink

We may be getting a bit too detail-focused at this point (is that possible when it comes to tax rates), but SI 1012/881 makes no mention of the lower AEA "for most trustees".

In previous years, this has been 50% of the individual AEA, but in the absence of any legislative confirmation we have left it at the previously published £5,000.

Update: I've also adjusted the table to acknowledge the 45% rate applicable from next year.

In the main legislation    1 thanks

tonycourt | | Permalink

At the risk of going off half cocked; isn't the answer in the main legislation at schedule 1 para 2. This says the AEA will be half that which applies for individuals. So once you set the rate for them you automatically set the rate for trustees