The Capital Gains Tax (Annual Exempt Amount) Order, SI 2012/881, provides that amount which – by virtue of TCGA 1992 s3(2) – is the annual exempt amount for 2012/13 unless Parliament determines otherwise is £11,200. This is the exempt amount for 2011/12, £10,600, increased by reference to RPI inflation between September 2010 and September 2011. However, the government announced in the 2011 autumn statement that the exempt amount would be frozen at £10,600 for 2012/13. Budget 2011 announced that from 6 April 2013 the exempt amount will rise in line with the CPI instead of the RPI.
The Capital Gains Tax (Annual Exempt Amount) Order, SI 2012/881, provides that amount which – by virtue of TCGA 1992 s3(2) – is the annual exempt amount for 2012/13 unless Parliament determines otherwise is £11,200. This is the exempt amount for 2011/12, £10,600, increased by reference to RPI inflation between September 2010 and September 2011. However, the government announced in the 2011 autumn statement that the exempt amount would be frozen at £10,600 for 2012/13. Budget 2011 announced that from 6 April 2013 the exempt amount will rise in line with the CPI instead of the RPI.
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")