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AEA and chargeable gains

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › AEA and chargeable gains

  • This topic has 2 replies, 2 voices, and was last updated 9 years ago by Tax Tutor.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • May 10, 2016 at 12:45 pm #314409
    ruqayyah
    Member
    • Topics: 12
    • Replies: 21
    • ☆

    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?

    May 11, 2016 at 7:37 am #314548
    ruqayyah
    Member
    • Topics: 12
    • Replies: 21
    • ☆

    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.

    May 15, 2016 at 5:36 pm #315201
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    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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