Chapter 11 Capital Gains Tax – Individuals TX-UK FA2023

18 Comments

1. J
   james·1y ago

   AEA for 24/25 is now £3,000.

   Reply
2. M
   mrjonbainModerator·1y ago

   This is correct. Anyone using these lectures and notes for 2025/26 exams (from September 2025 to March 2026 inclusive),please see the following thread- https://opentuition.com/topic/lectures-and-notes-2/

   Reply
3. M
   mohamed·1y ago

   LOL the Lord of the rings reference in Example 7 Gollum and Frodo haha

   Reply
4. S
   SebSupporter·1y ago

   Gollum and Frodo are civil partners.... plot twist!

   Reply
5. C
   Camilton·1y ago

   MCQ 2 Right Answers as per notes are A and D. I hope C is false.

   Reply
6. A
   Anonymous·1y ago

   Yes it is. I think the tutor missed the first word 'excess.' Excess losses are carried forward indefinitely. D is therefore correct. AEA is also deducted after current year losses, meaning C is indeed false.

   Reply
7. A
   Andrii·2y ago

   Order of deduction: Annual Exempt Amount (6000 GBP), then Loss from This Year, Loss from Previous Years carried forward

   Reply
8. N
   Natalia·2y ago

   Based on the notes and Example 6, order of deduction is: Current capital loss in the tax year, annual exempt amount and then the capital loss brought forward.

   Reply
9. Z
   Zoltan·2y ago

   MCQ2 solution is wrong, and the explanation makes it even more confusing. Right answers are A & D.

   Reply
10. A
    Anonymous·1y ago

    Yes it is. Excess losses are carried forward indefinitely. D is therefore correct. AEA is also deducted after current year losses, meaning C is indeed false, making A and D the right answers.

    Reply
11. B
    Bolajoko·2y ago

    Hello, thanks for the detailed explanation. However, please
    can you explain why part 5 MCQ 2 option C is wrong. I thought we're to deduct the current year loss from current year gain before deducting the AEA

    Reply
12. B
    Bolajoko·2y ago

    Okay, i get it now. i misinterpreted the question.

    Reply
13. C
    Cheryl·2y ago

    Please can you explain?
    I don't get it

    Reply
14. N
    Natalia·2y ago

    Current year capital losses are offset against current year capital gains which equals net capital gains then the Annual Exempt Amount is deducted to equal Taxable Gains

    Reply
15. J
    JONE·2y ago

    Hi! I also have doubt on this MCQ2, my answer is A and D because B is obviously wrong because of "against current year income" and C is also wrong, we need to deduct the current year loss from current year gain before deducting AEA(as you also said). That's why I had to check the answers in the Notes and the answer there is A&D. Hope this help

    Reply
16. K
    Kisha·2y ago

    In part 2 you had the computation for gift aid payment as pension. Is the computation the same of the two the same and this was an error in writing or are the computed differently in that you must find the gross for pension payments and use the figure given for the gift aid payment? Can you clarify please. Thank you in advance

    Reply
17. A
    Adonia·2y ago

    I think it might be an error in writing, it should be gross gift aid payment. The confusion might have occurred as both gross personal pension payments and gross gift aid payments extend the rate bands

    Reply
18. N
    Natalia·2y ago

    Once the question states made gift aid payment it is assumed that this is the net figure and the gross figure should be calculated to be used in the computation i.e., net figure x 100/80. Otherwise the question will state when it is a gross figure.

    Reply