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Started by bio, 05-07-2012, 22:49 PM
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  • Reply to Capital Gains Tax
    by AndrewDod
    I think the point that is being missed here is that inflation *is itself* a type of tax.

    It is a tax on savings (on people who try to save so they they or their disabled child can cope without having to lean on the state instead of smoking it away).

    Put simply, government...
    17-08-2022, 20:20 PM
  • Capital Gains Tax
    by LVA
    Apologies if this has been covered in this website but I've looked and cannot find...

    I bought my flat in 1997, rented it out in 2001 (ish), returned to live in it in March 2020. Its approx 27 years ownership and 7 ish years living in it.

    My accountant tells me the CGT...
    16-08-2022, 12:59 PM
  • Reply to Capital Gains Tax
    by gnvqsos
    I believe CGT did adjust gains in line with the RPI and also had taper relief. This was rejected in the late 90s by GB.
    17-08-2022, 18:33 PM
  • Overseas
    by jase222
    Hi,
    I will be moving to Spain for between 6-9months and I will obviously be paying my taxes and I spoke to a Spainish tax accountant who said the authorities won’t be interested in anybody who stays for less than a year as long as you can prove you pay tax in your own country? I’ve never heard...
    17-08-2022, 08:05 AM
  • Reply to Overseas
    by jase222
    I sorted that out but but was surprised by his comments, I know all about Spainish residency as been there before , I am waiting for confirmation.
    17-08-2022, 16:41 PM
  • Reply to Overseas
    by Gordon999
    If you stay in Spain for 183 days or longer , you will become tax resident for Spanish Taxes. You can find this information by online search.

    You may need to obtain a certificate of tax residency from HMRC or from Spain, to avoid paying taxes twice.
    17-08-2022, 09:44 AM
  • Reply to Capital Gains Tax
    by doobrey
    Agree. CGT is supposed to be a tax on 'gains'. Like real ones. There is no 100% right/fair way of doing it but adjusting to an index wouldn't be difficult, and it would be lot better than doing nothing, as now. With the current system you can sell at a loss in real terms and still be taxed on your imaginary...
    17-08-2022, 08:19 AM
  • Reply to Capital Gains Tax
    by Flashback1966
    It is upsetting to pay tax on inflation.

    That is the problem with property. With stocks and shares you can sell a bit every year to make use of the CGT allowance.


    This is why there is a deterent to selling up....
    16-08-2022, 17:58 PM
  • Reply to Capital Gains Tax
    by gnvqsos
    If you a GOOD accountant they will advise on such matters-far more qualified than most forum members. If you pay £50k tax at 18pc you are taxed on £280k.Add allowance of £13k.You have made £295k gross,£245 net, and you want more? Pay your dues and count your stars(and cash)
    16-08-2022, 17:34 PM
  • Reply to Capital Gains Tax
    by jpkeates
    I wouldn't rule it out, but I think the case for anyone starting out to do it as a company is pretty overwhelming now, and that would make it more compelling....
    16-08-2022, 16:34 PM
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