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Investors' Relief


A Capital Gains Tax relief that applies a reduced flat rate on gains from disposing of shares in unlisted trading companies, aimed at encouraging external investors in small businesses. The rate was 10% until April 2025, rising to 14% for 2025-26 and 18% for 2026-27. To qualify, shares must have been held for at least three years and issued after 17 March 2016, and the investor must not be an employee of the company. There is a separate lifetime limit of £1 million of qualifying gains distinct from the BADR lifetime limit.

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Last updated 3 May 2026Tax year 2025-26

Data sources: HMRC (gov.uk/hmrc)

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