capital gain

(redirected from Chargeable gains)
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Words related to capital gain

the amount by which the selling price of an asset exceeds the purchase price

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A chargeable gain for CGT made on the disposal of an asset is, broadly speaking, the difference between its value at the time of disposal and the cost of acquiring the asset - effectively an investment's profit.
This differential may reduce further in the future as additional increases in the capital gains tax rates have not been ruled out, but as it stands it will clearly be an important factor in investment strategies -notwithstanding the fact that chargeable gains on assets held in the medium to long term will include inflationary gains.
The only occasion a loss on a bond might have some tax advantage is when there have been previous chargeable gains on the same bond.
The first pounds 8,500 of chargeable gains are free from capital gains tax for 2005/06 which represents pounds 3,400 of tax at 40 per cent.
Among key tax features, his report said REITs would be exempt from corporation tax on qualifying rental income and chargeable gains and be required to distribute at least 95 per cent of net taxable profits on rental income to investors.
Chargeable gains should be accurately calculated before any decision is made.
The Birmingham office of accountants BKR Haines Watts, says that new provisions introduced in chargeable gains tax legislation could significantly change the way groups of companies are taxed on disposals of subsidiaries.
The first pounds 7,700 of chargeable gains are free from capital gains tax for 2002/03 which represents pounds 3,080 of tax at 40 per cent.
In addition there are sections, which apply only if you have the relevant source of income - for example, from employment, from self-employment, from property or from chargeable gains.
Provided the deed is executed within two years of your aunt's death, and quotes s142 of the Inheritance Tax Act 1984 and s62 of the Taxation of Chargeable Gains Act 1992, then for the sake of Inheritance Tax and Capital Gains tax, the gift will be treated as though your aunt left the money directly to your children.
HMRC added, "Gains and losses incurred on Bitcoin or other cryptocurrencies are chargeable or allowable for Capital Gains Tax if they accrue to an individual or, for Corporation Tax on chargeable gains if they accrue to a company.
Briefly, the executors of Lord Howard's estate put forward the argument that they owed no capital gains tax on the proceeds of the sale on the counter-intuitive basis that the painting was technically a 'wasting asset', and therefore not chargeable under the Taxation of Chargeable Gains Act 1992 (the 'Act').
Fine wine investment is often advertised as a 'tax-free investment' due to it being exempt from capital gains tax as it is deemed a wasting asset 'whose predictable life does not exceed more than 50 years' (Section 44(1) Taxation of Chargeable Gains Act 1992).
In the current tax year there is an exempt amount of PS10,600 for chargeable gains and this will be lost if it is not used.
Additional topics covered include self-assessment, trading profits, loan relationships, capital allowances, loss relief, intangible fixed assets, group chargeable gains and liquidations.