Calculating Capital Gains Tax in UK

1
HOW COULD CHANGES TO CAPITAL GAINS TAX AFFECT YOU

• Morgan Reach

2
Capital Gains Tax

• Capital Gains Tax is a tax on the profit when you
  sell (or 'dispose of') something (an 'asset')
  that's increased in value.
• It's the gain you make that's taxed, not the
  amount of money you receive.

https//morganreach.com
3
Government urged to overhaul CGT

• The Office of Tax Simplification (OTS) has
  published a review of the tax, commissioned by
  Chancellor Rishi Sunak, which revealed 14bn
  could be raised by making these changes.
• Currently, CGT is charged at a basic rate of 10
  or a higher rate of 20 on the disposal of
  assets, with rates of 18 or 28 applying to
  residential property.

https//morganreach.com
4
Tax Director OTS, added

• If the Government considers the simplification
  priority is to reduce distortions to behaviour,
  it should consider either more closely aligning
  capital gains tax rates with income tax rates, or
  addressing boundary issues as between capital
  gains tax and income tax.

https//morganreach.com
5
Calculating Capital Gains Tax

• Capital Gains Tax is a tax on the profit when you
  dispose or sell an asset thats increased in
  value. Its the gain you make thats taxed, not
  the amount of money you receive.
• While the top bands of income tax are both 45
  and 40 for people earning more than 50,000, the
  average CGT paid on the sale of assets is only
  around 15.
• Morgan Reach App includes a Capital Gains Tax
  calculator.

https//morganreach.com
6
Contact Morgan Reach

• Our tax experts can provide the clarity you are
  seeking. We can review or might be able to reduce
  your tax bill if you fear you are paying too much
  tax, contact us through one of below.
• Phone
• 0121 236 0777
• Email
• info_at_morganreach.com
• Website
• https//morganreach.com