Tax-free allowances for Capital Gains Tax 12/13
The annual tax-free allowance (known as the Annual Exempt Amount) allows you to make a certain amount of gains each year before you have to pay tax.
In the recent budget, it was announced that this was unchanged in the new tax year- however this was a mistake! The allowance for the tax year ended 5 April 2013 is in fact £11,200 (and not £10,600 as last tax year).
Graeme Bennett ACMA MBA