The upside of investment losses

Article Abstract:

Investment losses cam offer some relief from capital gains tax, but investors should understand how the United Kingdom system works if they are to benefit from losses. They cannot benefit from losses on assets where gains are exempt from capital gains tax, such as family homes. There is a time limit for claiming a loss, and it can be deducted from gains so that the total tax bill is reduced. Losses from previous years usually have to be taken into account prior to using allowances.

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Capital business

Article Abstract:

There are a number of exemptions and reliefs for United Kingdom capital gains tax. Exemptions include proceeds from the sale of a main residence, winnings from lotteries, compensation for personal injury, and personal possessions not likely to last 50 years or more when they were acquired. Reliefs include retirement relief for people selling a business when they are aged 50-years-old or more, or less than 50 years-old, but having to retire due to ill-health.

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An income from the tax man

Article Abstract:

Advice is provided for British investors on obtaining an income from a capital gains tax allowance.

Management

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