In this question all 4 brothers are additional rate tax payers but in answer the CGT implication for john is a bit confusing for me. The taxable gain was 619400 after deduction of annual exemption 10600. Then they charged capital gain tax at 10%.
My question is this how can he pay a capital gain tax at 10% when he is additional rate tax payer????
I don’t know the particular question but if CGT is charged at 10%, that means the chargeable asset qualify for Entrepreneur relief at 10%.
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