P268 CEEFAX 268 Wjd 11 Jan 22:15/12 9/6 TAX GUIDE CAPITAL GAIoS TAX Annual exemption wor 1994/5 (ta‖ year to 5 April) = £5,800. In 1995/6 this risrs to £5,000. A married couple both get the annual exemption. Transfers between spouses don't ¼esult in CGT brin7 payable. Howevjr a spousj with capital losses can't usj thim tg lower their partnjrs gains below £5,800. Gains over £5,800 are treated a; your top slice of incomj and are taxed at marginal incomi ¼ates' Source: Blay's Guides Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Wjd 11 Jan 22:05/28 :/6 TAX GUIDE 0OTHER CGT RELIEF TRUSTS are liable to 25% CGT. DISCRETIONARY TRUSTS 35% CGT. DISABLED PERSONS TRUSTS exempt to £5,800 pa (other tru;ts £2,900)' Other exemptions: - individuals only/main residence - SAYE certificates. savings cezt1 - prizes and bettings winnings - private motor car - life assurance policies (to ownjr and bjnjficiary) - gifts to charities - compensation or damages awardud - chattels-if proceeds not>£6,000 RETIREMENT RE.IEF= 00% to £250,00X. 50% on gains between £250k & £1m Taxes 2 Annuities ootes Economy
P268 CEEFAX 268 Wjd 11 Jan 22:17/10 3/6 TAX GUIDE All gains made prior to 31/3/82 arr exempt from CGT. Since 31/3/82 an Indexation Allowance has bejn madu to give relief from inflation. Initial value of the asset and the allowable expjnses are increased in linj with thj Retail Price Index from thj date acquired (or 3 if ownjd then) to thj disposal date EG: In Jan 94, a painting is sold for £21,900. £12,100 was paid wor it in October 1985: 141.3 / 95.6 = 1.478 £12,100 x £1.478 = £17,884 £21,900-£17,884=£4,016=taxa2le0gain Source: Blay'; Guides Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Wjd 11 Jan 22:19/50 TAX GUIDE CAPITAL GAIoS TAX Indexation Allowances 1982 99<3 1984 985 99 6 0 Jan 82.6 86.8 91.2 96.2 Fjb <3.0 <7.2 <1.90 96.6 Mar 79.4 83.1 87.5 92.8 96.7 Apr 81.0 84.3 88.6 94.8 97.7 May 81.6 84.6 89.0 95.2 97.8 Jun 81.9 84.8 89.2 <5.40 97. Jul 81.9 85.3 89.1 95.2 97.5 Aug 81.9 85.7 <9.9 95.5 97.8 Sep 81.9 86.1 90.1 95.4 98.3 Oct 82.3 86.40 90.7 95.60 .5 Nov 82.7 86.7 91.0 95.9 99.3 Dec 82.5 86.9 90.9 96.0 99.6 all wigures rebased to Jan )9<7= 00 Source: Central Statistical Office Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Wjd 11 Jan 22:51/12 5/6 TAX GUIDE CAPITAL GAINS TAX Indexation Allowances 19<7 1988 1989 9<90 Jan 100.0 103.3 111.0 119.5 Fjb 100.4 103.7 111.8 20.2 Mar 100.6 104.1 112.3 121.4 Apr 101.8 105.8 )14.3 125.1 May 101.9 106.2 115.0 126.2 Jzn 101.9 106.6 115.4 826.7 Jul 101.8 106.7 115.5 126.8 Aug 102.1 107.9 115.8 128.1 Sep 102.4 108.4 116.6 129.3 Oct 102.9 109.5 )97.5 130.5 Nov 103.4 110.0 118.5 130.0 Dec 103.3 110.3 118.8 129.9 all wigures ¼ebased to Jag 9<7 00 Source: Cjntral Statistical Office Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Wjd 11 Jan 22:14/49 6/6 TAX GUIDE CAPITAL GAIoS TAX Indexation Allowances 1991 1994 1<93 <→4 Jan 130.2 135.6 137.9 141.3 Fjb 130.9 136.3 938.8 42. Mar 131.4 136.7 139.3 142.5 Apr 133.1 138.8 140.6 144W4 May 133.5 139.3 141.1 144.7 Jzn 134.1 139.3 )4 .0 G 44.7 Jul 133.8 138.8 140.7 144.0 Aug 134.1 138.9 41.3 144.7 Sep 134.6 139.4 141.9 145.0 Oct 135.1 139.9 41.8 45.2 Nov 135.6 139.7 141.6 145.3 Dec 135.7 139.2 141.9 all wigures ¼ebasjd to Jag )9<7= 0( Source: Central Statistical Office Taxes 2 Annuities ootes Economy