Dear Sir,
My questions are:
1/ Does Companies benefit from annual exempt amount?
2/ Is chargeable gains equal to taxable gains both for companies and for individuals?
Ask the Tutor ACCA TX-UK
AEA and chargeable gains
I got the answers :
1/ No, companies do not benefit from AEA, but they benefit from indexation allowance.
2/ Yes, the terms chargeable gains and taxable gains are interchangeable.
Thanks for ignoring my questions.
Answer 1 - correct
Answer 2 - For an individual chargeable gains are reduced by the AEA to give taxable gains
By the way I did not ignore your questions but have to fit this into a very busy working schedule and answering student questions from students who attend the courses that I am lecturing
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