Budget 2009 Introduction Personal Income Tax Tax Credits National Insurance Contributions Employees Savings Capital Gains Tax Inheritance Tax Stamp Duty Land Tax Corporation Tax Business Tax Value Added Tax Other Measures Tax Tables National Insurance

Capital Gains Tax Annual exemption and rate The annual exempt amount for CGT rises from £9,600 to £10,100. Most trusts enjoy half the personal exemption (£5,050). The rate of CGT remains unchanged at 18% on net gains after reliefs, losses and the annual exemption. Entrepreneurs' Relief reduces the rate to 10% on the first £1m of gains on disposals of qualifying business assets. Agricultural property Holdover relief allows someone who gives away agricultural property to pass on the CGT charge on the gift to the donee. Up to now, the relief has only been available for land situated in the UK. From 22 April 2009, land anywhere in the European Economic Area can qualify. Tax Tip CGT rates are low: consider investing for gains, not income.