Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

We have 51000 pounds from the sales of shares and 40000 pounds annual taxable income. how do we calculate the capital gains tax (CGT) in

We have 51000 pounds from the sales of shares and 40000 pounds annual taxable income. how do we calculate the capital gains tax (CGT) in the UK tax system

10% or 18%

Higher tax rate 20% or 28%

Annual Exempt Amount 12,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting The Impact on Decision Makers

Authors: Gary A. Porter, Curtis L. Norton

9th edition

130565417X, 1305654174, 9781285972572 , 978-1285182964

More Books

Students also viewed these Accounting questions