Capital Gain Tax and its Features


Presentation Description

Study the concept of capital gain tax and its features which help in understanding when we need to pay or where we not to pay tax. Also know what the 2016/2017 rate and tax allowance of capital gain tax.


Presentation Transcript

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CAPITAL GAIN TAX Presented By: Barrington How Barrington Howe

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Capital gains tax is a tax on the increase in value of possessions – such as a second property, antiques or shares – during the time you have owned them. Any tax is due when you dispose of them, usually by selling them or giving them away.  Different types of capital gains are taxed at different rates. What is Capital Gain Tax?

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Features of Capital Gain Tax…. The long-term capital gains tax rates are lower than the ordinary income tax rate . The capital gains tax applies only you actually understand the gain or loss, instead of when the worth of your capital assets will increase or decreases . The capital gains rate does not apply to property that would be classified as inventory . Capital gain tax does not apply to corporate income.

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When you pay tax…. Pay capital gain tax when we attain more profit by selling such as.. Business property. Shares that aren’t in an ISA. Own home which we use for business

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Where you need not to pay tax…. When we give gift to husband or wife, when we give gift to charity. Sale of your own home. Personnel owning antique, private car. National saving, pension, funds, lottery winning. When you die

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Rates & Tax allowance of C apital Gain Allowance Rates £11,100 10% 20% (18 & 28)% Who pay basic rate Income tax Who pay high tax Apply to second residential property

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Contact US Address:- Suite 163, 2 Lansdowne Row, Berkeley Square, Mayfair, London, W1J6HL United Kingdom Phone:- +44 0203 0268820 Email Id :- Barrington Howe Want to take advice or making capital gain tax planning and calculation.

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