Easing the pain of capital gain
Article Abstract:
The UK government is not likely to abolish capital gains tax in Nov 1996. There are few votes to be won from this move, and there would be accusations that the government's policies favor the rich. Abolition would also reduce government revenue and CGT will raise an estimated 900 million pounds sterling in 1996. There is a clearer case for tax reform since CGT costs a lot to collect and is not easy to calculate. The UK Labor party is likely to be less generous about CGT if it is elected.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Capital gains tax - no easy answers
Article Abstract:
Changes to United Kingdom capital gains tax have been confusing for investors. Suppliers of software are also concerned that it may not be possible to include the changes in software used for calculating tax liabilities by professional advisers. There are a number of complications such as the introduction of taper relief on assets purchased after April 1998, to be combined with indexation allowances for assets owned to April 1998, and the way that carried-foward losses are treated.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Standby for action
Article Abstract:
The UK Jul 1997 Budget could increase taxes while leaving tax rates unchanged, through ending tax reliefs. The government is expected to introduce painful measures early on. Some tax reliefs that could be affected include relief for private health insurance for the aged, and mortgage tax relief. Capital gains tax reinvestment relief could also be abolished. Tax relief for pension contributions could become less generous, and value-added tax could be payable for school fees.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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