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Capital gain tax individuals relief (BADR)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Capital gain tax individuals relief (BADR)

  • This topic has 2 replies, 2 voices, and was last updated 11 months ago by shaneabbas123.
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  • July 16, 2021 at 4:11 pm #627956
    shaneabbas123
    • Topics: 3
    • Replies: 1
    • ☆

    Hello sir
    If taxable gain relating badr exceeds the first £1M during their lifetime.
    Will the gain be taxed at 10% or will it be charged at other rate after checking the taxable income?

    July 19, 2021 at 12:38 pm #628725
    Tax Tutor
    • Topics: 2
    • Replies: 3929
    • ☆☆☆☆☆

    A taxable gain in excess of £1m will not qualify for a 10% rate and will be charged at 20% as the gain qualifying for BADR will be deemed to have already used any remaining basic tax rate band from the taxpayers’ income tax computation – which further issue is shown in the OT study notes on page 86, section 1.4

    July 19, 2021 at 3:00 pm #628782
    shaneabbas123
    • Topics: 3
    • Replies: 1
    • ☆

    Thank you sir

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