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CAP TBL@GAINS TAX 2001/02 1 3
Yoy work out thj taxable gain or
allowabli loss on sjlling an assjt bz
djducting thi cost of thj asset from
thj ptoceids zou gjt whjn zok sjll it.
Gains and lossjs ari@njttid off anh anz
tapju riliie is appliih sjparatily to
jach chargjabli gain↑
Thj !nnual jxemption of £7,500 in
2pQ1JQ2 jor a↑ inhivjhual is thUn
dedu!tid.@Anz remaiNjng gai/ is taxed
at your own top rate of income tax.
Only gains madj sjnci 31 March 19)2 ari
taxabli. A transfet bjtwein spousrs is
not taxabli.
! Source: Ernst & Young (sji pagj 271)
Inhjtit TaxIndjx Inc Tax Majn Munu