Capital Gain Tax and Its Features

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CAPITAL GAIN TAX
Presented By Barrington How Barrington Howe
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What is Capital Gain Tax?
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.
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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 arent 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 Capital Gain
Allowance
Rates
10
20
(18 28)
11,100
Apply to second residential property
Who pay basic rate Income tax
Who pay high tax
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Want to take advice or making capital gain tax
planning and calculation.
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