Capital gains of an individual are taxed at different rates depending upon the taxpayer's income tax band1. If the individual is a higher-rate taxpayer, then capital gains will be taxable at the higher capital gains tax rates of 20% for most types of assets or 28% on 'upper rate gains' in respect of residential property or carried interest gains2. If the individual's taxable income is below the higher-rate income tax band, the amount of gain which falls within the basic-rate income tax band is subject to the lower capital gains tax rates of 10% for most types of assets,
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