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Chapter 14 CGT Individuals Reliefs – Example 2

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Chapter 14 CGT Individuals Reliefs – Example 2

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by AvatarTax Tutor.
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  • May 29, 2016 at 8:22 am #317884
    Avatarangelamalta
    Member
    • Topics: 28
    • Replies: 82
    • ☆☆

    Hi Tax tutor, when there are capital gain losses brought forward, as there is in the above example, are these always automatically deducted from the investment column figure as opposed to the entrepreneurs relief column figure? Thank you.

    May 31, 2016 at 10:59 am #318354
    AvatarTax Tutor
    Member
    • Topics: 2
    • Replies: 3960
    • ☆☆☆☆☆

    The taxpayer is able to choose where to deduct losses and the AEA and will choose to reduce those gains being taxed at 18% and / or 28% before reducing gains that will be taxed at only 10%

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