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Taxpayers may wish to consider basic tax planning arrangements in use the capital gains tax annual exemption (also known as the annual exempt amount). This type of tax planning is often reviewed at the end of the tax year.

This guidance note first looks at the annual exemption in detail and then various tax planning strategies that might be appropriate, depending on the family circumstances. It also considers actions to consider before the end of the tax year.

For other commentary that is relevant to year end tax planning, see the:

1. •

   Timing of disposal for capital gains tax and ‘Bed and breakfasting’ with shares guidance notes, which consider the date of disposal of assets and the potential to delay the tax payment, and whether it is possible to dispose and reacquire an asset without triggering anti-avoidance rules

2. •

   Deferral of capital gains via reinvestment and Tax efficient investments and pension planning guidance notes, which consider investments that provide the taxpayer with relief from one or more taxes for the current tax year, or are