Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

ACCA December Exams

Post comments & Vote in Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March 2025 exams.
Get your discount code >>

CGT Payable on or after 23-06-10 ( CGT Payable at 18% & 28% )

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › CGT Payable on or after 23-06-10 ( CGT Payable at 18% & 28% )

Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • October 25, 2011 at 5:03 pm #50220
    sajidhameed
    Participant
    • Topics: 3
    • Replies: 7
    • ☆

    Dear Sir,

    If Taxable Income+Taxable Gains is more than basic rate limit. How we can calculate CGT?.

    Please answer ASAP.

    Regards,

    Sajid

    November 6, 2011 at 8:52 am #89081
    usmanw
    Member
    • Topics: 5
    • Replies: 12
    • ☆

    For example:

    If you have tax income of £30000 and tax gain of £10000(after A/Exempt)

    Than : cgt= 18% x (37400-30000) + 28% x (10000-7400)

    Hope this helps!

    November 9, 2011 at 8:35 pm #89082
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Correct if there is any remaining basic rate band after taxable income the gains up to £37,400 are taxed at 18%. Once the Basic rate band is used up the gains are at 28%
    Hope this helps

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.