# CGT Individuals and Companies

1. says

For the tax year 2014–15 Adam has a salary of £40,000, and during the year he made net personal pension contributions of £4,400. On 15 June 2014 Adam sold an antique table and this resulted in a chargeable gain of £17,500.
Ans:
Adam’s taxable income is £30,000 (40,000 less the personal allowance of 10,000). His basic rate tax band is extended to £37,365 (31,865 + 5,500 (4,400 x 100/80)), of which £7,365 (37,365 – 30,000) is unused.

Does anyone can tell me how come this 100/80 pls?

• says

It is the standard rate to be applied when calculating charitable donation and building society interest.for instance if the BSi is £2000.You need to gross it up by multiplying 2000 by 100/80=2500 to become your Non savings income and 20% *2500=500 wiil be in the column of tax suffered.
But if it is charitable donation ,u only calculate for instance 1000*100/80 only .
Now this will increase the basic band rate from 32865 +200 and the second effect is that will reduce the tax liability of the individual.
I hope this help

2. says

For the tax year 2014–15 Adam has a salary of £40,000, and during the year he made net personal pension contributions of £4,400. On 15 June 2014 Adam sold an antique table and this resulted in a chargeable gain of £17,500.
Ans:
Adam’s taxable income is £30,000 (40,000 less the personal allowance of 10,000). His basic rate tax band is extended to £37,365 (31,865 + 5,500 (4,400 x 100/80)), of which £7,365 (37,365 – 30,000) is unused.

Does anyone can tell me come this 100/80 pls?

3. says

What is the order of utilisation of an unrelieved loss i.e loss c/f and the loss in the tax year?
Is there any year limit in which unrelived loss can be carried forward?

4. says

Is there any limit in the number of years for which you can bring forward unused capital losses?