In general, chargeable gains (including gains arising on disposals of development land) are taxed at 25%. This rate has applied since 7 April 2009.

You may be taxed at the 40% rate in relation to:

(a) gains on disposals of foreign life assurance policies or foreign deferred annuity contracts (s 594(2)(f)), and

(b) gains on the disposal of a material interest in an offshore fund (s 747A) located in a non-EU non-treaty country.