1. A new 10% Capital Gains Tax rate called "entrepreneurs' relief" took effect from 6 April 2008.
2. The annual exemption allowance amount is increased to £9,600 for individuals and £4,800 for Trusts in respect of disposals after 5 April 2008.
3. Taper relief and indexation allowances have been withdrawn, with effect from 5 April 2008.

Entrepreneurs relief (10% CGT rate)
1. It will apply to:-
a) Gains made on the disposal of part of your company;
b) Gains made on disposals of assets following the cessation of the company; or
c) by shareholder directors involved in running the company.

2. The first £1million of your gains that qualify for relief will be charged to CGT at an effective rate of 10%.

3. Gains in excess of £1 million will be charged at the normal 18% rate.

Conditions.
1. You must have held the shares (or assets) for at least a year before sale.
2. Your company must be trading (so property letting businesses don't qualify).
3. When you sell a company you must own at least 5% of the voting ordinary shares and have either worked in, or have been an officer in the company.

Lifetime limit.
1. There is no minimum age limit on entrepreneurs' relief, so you don't have to "retire" when you sell your business to qualify.
2. There is a lifetime limit of £1million of gains that can be subject to the relief. This means you can make a number of gains totalling £1million over several years, and claim entrepreneurs' relief on all of them.