Capital gains tax

Walter Sinclair

Chapter 20 in Tax Guide 2001–2002, 2001, pp 297-339 from Palgrave Macmillan

Abstract: Abstract Subject to the specific rules that are summarised in the following pages, you will be charged to capital gains tax in respect of any chargeable gains that accrue to you on the disposal of assets during a given tax year. You deduct from your capital gains any allowable capital losses (20.13) and then indexation allowance (20.11) and/or taper relief (20.12). (The taper relief system applies for realisations from 6 April 1998.) For individuals, capital gains tax is charged at the same rates as on investment income (10 per cent, 20 per cent and 40 per cent for 2001–02).

Keywords: Capital Gain; Trading Company; Capital Loss; Retail Price Index; Business Asset (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1057/9780230505445_20

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