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Capital gains tax

rich_hobbs_1rich_hobbs_1 Member Posts: 24 Listener
hi can I just ask are people registered with a disability exempt from capital gains tax 

Replies

  • Pippa_ScopePippa_Scope Member Posts: 5,856 Disability Gamechanger
    Hi @rich_hobbs_1, this information is from the gov.uk Capital Gains Tax Page:

    "The annual tax-free allowance (known as the Annual Exempt Amount) allows you to make a certain amount of gain each year before you have to pay tax. Nearly everyone who is liable to Capital Gains Tax gets this tax-free allowance.
    There’s one Annual Exempt Amount for:
    • most individuals who live in the UK
    • executors or personal representatives of a deceased person’s estate
    • trustees for disabled people
    Most other trustees get a lower Annual Exempt Amount.
    From 2015 to 2016, non-residents who dispose of a UK residential property will be liable to Capital Gains Tax and, in most cases, will be able to claim the Annual Exempt Amount in the same way as for UK residents. However, this Annual Exempt Amount won’t be available to companies who dispose of a UK residential property as other allowances may be claimed."
  • rich_hobbs_1rich_hobbs_1 Member Posts: 24 Listener
    Argh ok then thanks pip I will take it that it would only be exempt if someone was to take out a trust or for the disposal not to be more than eleven thousand which is the limit anyway so basically no there are no special exceptions which I think is totally wrong ! 
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