Accountant in High Wycombe

Total Tax Accountant in High Wycombe here to help our clients to work More Help from HMRC Calculations of Shares and Property Uncategorized  out their Tax Liabilities on disposals of assets. To help thousands of people in UK , HM Revenue and Customs has also launched two more Calculators to help to work out  your tax liability. It is extremely important that correct figures are used to declare correct gain or loss so that you don’t over or under pay your taxes. We at Total Tax always here to help our clients to work out their Tax Liabilities on disposals of such assets. Please find these links below

 

 

View the full list of calculators at HMRC calculators and tools (https://www.gov.uk/guidance/hmrc-tools-and-calculators).

 

Capital Gains Tax (CGT) rates and bands
2018/19 2017/18
Higher rate taxpayers rate 20% / 28% * 20% / 28% *
Entrepreneurs’ relief – effective rate 10% 10%
Annual exemption
Individual £11,700 £11,300

AEA limits

Customer group 2014 to 2015 2015 to 2016 2016 to 2017 2017 to 2018 2018 to 2019
Individuals, personal representatives and trustees for disabled people £11,000 £11,100 £11,100 £11,300 £11,700
Other trustees £5,500 £5,550 £5,550 £5,650 £5,850

If you’re non-domiciled in the UK

If you’ve claimed the remittance basis of taxation on your foreign income, you will not get the AEA if you’re non-domiciled in the UK.

You may be non-domiciled in the UK if you were born in another country and intend to return there, for example.

You may have claimed the remittance basis if you have income and gains from abroad and have decided that it’s beneficial to be taxed on the foreign income and gains that you bring here, rather than on the arise of all other income and gains.

Issues of domicile and tax on foreign gains are complicated. A lot depends on the facts of each case.

More Help from HMRC Calculations of Shares and Property

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