The Capital Gains Tax (Annual Exempt Amount) Order 2012
Section 3 of the Taxation of Chargeable Gains Act 1992 (“TCGA”) provides for an exemption from capital gains tax where an individual’s gains in any year of assessment are below a threshold which the Treasury are required to specify before that year. This Order provides that the annual exempt amount (“AEA”) for the assessment year 2012-13 is £11,200.00.