What are your capital gain taxes?
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haskel
Apprentice
Joined: 21 Sep 2006
Posts: 1
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 Posted: 09/09/08 - 05:02 Post subject: |
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| Dear all. I have some tax questions and thought of you. I am sure that you are able to answer them for me. How does it work with capital gains taxes? Which assets have got capital gains taxes due on them and how do I know what I am supposed to pay? |
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erhart
Apprentice
Joined: 10 Mar 2008
Posts: 1
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| Posted: 09/24/08 - 03:03 Post subject: |
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| That depends on which country, but I will answer you for the UK. CGT is charged at a basic rate of 18 per cent and is due on most assets that have considerably risen in value, when you sell them. Stocks and shares, jewelry, and most commonly properties. Your principal private property is exempted from capital gains taxes though. |
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jasmina
Apprentice
Joined: 24 Apr 2008
Posts: 1
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| Posted: 10/09/08 - 01:04 Post subject: |
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| Far too expensive! I am sure that most people would do anything to get out of capital gains taxes! When I sold my house I lost so much of the profits on taxes that I found myself wondering whether I had made the right decision after all. I would consult a tax expert in advance if I were you. |
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