P275 CEEFAX 2 275 Mun 17 Sep 00:52/0%
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CAPITAL GAINS TAX 2001/02 1/3
You work out thj taxabli gain oi
allowablu loss on sjlling an assjt b=
djducting thj cost of thj assjt from
thj proceids you gjt whjn you sjll it.
Gains and lossjs are netted off and anz
tapjt reliif is applied sjparatily to
each chargjabli gajn.
Thj annual eximption of £7,500 in
2001-04 for an indjvjdual is thjn
djductidO Anz remajnjng gain is taxid
at your own top rati of incomj tax.
O↑ly gains madj sjnck 31 March 1:82 are
taxabli. A ttansfir bjtwiin spousjs is
not taxabli.
Soutce: ErnRt & Young (uji page 272)
Mortgages & Savinks GuiJj 2*0
Inhjtit axIndjx Inc T x M!in Minu