Capital Gains Tax The rates for the payment of Capital Gains Tax have been frozen and are still the equivalent income tax rates. The Annual Allowance for individual has been increased from £8,200 to £8,500 for the tax year.
The Annual Allowance for the majority of trusts will be half the individual level of £4,250. New changes regarding the location of assets means that people resident but not domiciled in the UK will now become chargeable to Capital Gains Tax on assets located outside the UK.
Non UK residents that have a place of business in the UK will also be affected by these new measures.