P268 CEEFAX 268 Sun 9 Apr 02:36/10   1/6  TAX GUIDE    CAPITAL GAINS TAX Annual exemption for 1994/5 (tax year to 5 April) = £5,800N In 1995/6 this rises to £6,000N A married couple both get the annual exemptionN Transfers between spouses don't result in CGT being payable. However a spouse with capital losses can't use them to lower their partners gains below £5,800N Gains over £5,800 are treated as your top slice of income and are taxed at marginal income ratesN  Source: Blay's Guides Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Sun 9 Apr 02:32/03   2/6  TAX GUIDE    OTHER CGT RELIEF TRUSTS are liable to 25% CGTN DISCRETIONARY TRUSTS 35% CGTN DISABLED PERSONS TRUSTS exempt to £5,800 pa (other trusts £2,900)N Other exemptions: M individuals only/main residence - SAYE certificatesN savings certs prizes and bettings winnings and beneficiary) M gifts to charities compensation or damages awarded 50% on gains between £250k & £1m  Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Sun 9 Apr 02:34/07   3/6  TAX GUIDE    All gains made prior to 31/3/82 are exempt from CGTN Since 31/3/82 an Indexation Allowance has been made to give relief from inflation. Initial value of the asset and the allowable expfnses are increased in line with the Retail Price Index from the date acquired (or 31/3/82 if owned then) to the disposal date EG: In Jan 94, a painting is sold for £21,900N £12,100 was paid for it in October 1985: 141.3 / 95.6 = 1.478 £12,100 x £1.478 = £17,884 £21,900-£17,884=£4,016=taxable gain Source: Blay's Guides Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Sun 9 Apr 02:21/10   4/6  TAX GUIDE    CAPITAL GAINS TAX Indexation Allowances 1982 1983 1984 1985 1986 Jan 82.6 86 8 91.2 96.2 Feb 83N0 87.2 91.9 96.6 Mar 79.4 83.1 87.5 92N8 96.7 Apr 81N0 84.3 88.6 94.8 97.7 May 81.6 84.6 89.0 95.2 97 8 Jun 81.9 84N8 89.2 95.4 97N8 Jul 81.9 85.3 89.1 95.2 97.5 Aug 81.9 85.7 89.9 95.5 97N8 Sep 81.9 86.1 90.1 95.4 98.3 Oct 82.3 86.4 90.7 95.6 98.5 Nov 82.7 86.7 91 0 95.9 99.3 Dec 82.5 86.9 90.9 96N0 99.6 all figures rebased to Jan 1987=100  Source: Central Statistical Office Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Sun 9 Apr 02:25/00   5/6  TAX GUIDE    CAPITAL GAINS TAX Indexation Allowances 1987 1988 1989 1990 1991 Jan 100N0 103.3 111.0 119.5 130.2 Feb 100.4 103.7 111.8 120.2 130 9 Mar 100.6 104.1 112.3 121.4 131.4 Apr 101.8 105.8 114.3 125.1 133.1 May 101.9 106.2 115 0 126.2 133.5 Jun 101.9 106.6 115.4 126.7 134.1 Jul 101N8 106.7 115.5 126.8 133 8 Aug 102.1 107.9 115N8 128.1 134N1 Sep 102.4 108.4 116.6 129.3 134.6 Oct 102.9 109.5 117.5 130.3 135.1 Nov 103.4 110 0 118.5 130 0 135.6 Dec 103.3 110.3 118 8 129.9 135N7 all figures rebased to Jan00887=100  Source: Central Statistical Office Taxes 2 Annuities Notes Economy
P268 CEEFAX 268 Sun 9 Apr 02:37/00   6/6  TAX GUIDE    CAPITAL GAINS TAX Indexation Allowances 1992 1993 1994 1995 Jan 135.6 137.9 141.3 146N0 Feb 136.3 138N8 142N1 146.9 Mar 136.7 139.3 142.5 Apr 138.8 140.6 144.2 May 139.3 141.1 144.7 Jun 139.3 141N0 144.7 Jul 138N8 140.7 144N0 Aug 138.9 141.3 144.7 Sep 139.4 141.9 145N0 Oct 139.9 141N8 145.2 Nov 139.7 141.6 145.3 Dec 139.2 141.9 146N0 all figures rebased to Jan 1987=100  Source: Central Statistical Office Taxes 2 Annuities Notes Economy