P268 CMJFAX 268 Sun 15 May 23:59/37 ] 1/6 VAX GUIDE I CAPITaL G—IGS TAX 5 Ann;al exemption for 1994/5 (tax ar to April) = £ ,8 0. (unchanged since 6/5/92) A married c upl bk5h ge5 the annual kxemption. Transfers between spouses don't result in COT bjink pazbbli. However a spouse with capital losses can'5 use them to lower their partner1 g1ins belou £5,800. Gains over £5,800 are treated as your top slice of income and are taxed at marginal income rater. Source: Blay's Guides Taxes 2 Annuities Inflation HousesP268 CEEFAX 268 Sun 15 May 33:59/41 F TBX0GUIDE 2 OTHER COT 3ELIEF 2 22 2 0 TRUSTS are liable to 25% COT. DISC ETJONARYTRUSTSCOT DISABLED PERSONS TR TS xem t to £5,800 pa (other trusts £2,900).1 Othkr ex$mptions: - individuals onlyWmain re3idince - S—YE ceutifiaate5. s16unks cduts - prizesdand bjttings winnings p - private motor car -alife assurance policies (to owner and benjficiar:I -agifts to charities -acompUnsation or damages awarded - chattels-if proceeds not>£6,XX0 5ETJ"JMEN$ RELIEF]100% to £250,000. 50% on gains between £2)0k & £1m Taxe3 2 Annuities Inflation HousesP268 CJJFAX 268 Sun 15 May 23:59/05 ^ 3/6 TAX GUIDE All gains mSdj prior to 31S3/82 1rj exempt from COT.!Since 31/3/82 1n I&djxatign Allouance h1s 3jdn %145 to give relief from inflation. Initial value of the asset 1nd zhj allowable kxpjnseu are increased in line with the Retail Price Index from the date acquired (or 31/3/82 if owned then) to the dispos l date EG: In Jan 94, a painting is sold for £21,9 0. £12,109 was p id for it in October 1985: 141.3 / 95'6 = 1.478 £12L2p9 x £1.478 = £17,884 £21,;00-£17,884=£4,:16=taxable gain b 0 Source: Blay's G5hdeu Tbxeu 2 Annvitieu Inflation Hou3juP268 CEEFAX 268 S4n 5 Mpy 23 5 / 4/6 O TBX GUIDE CAPET L GAINS T X Indexation Allowances dK1982 1983 s9 4 9 5 1 6 Jbn 82. <6.8 Y1.4 9 .2 0 Feb 83.0 87.2 91.9 96W6 Mar 79.4 F83.1 87.5 ]2.= 96.7 Apr 81.0 84.3 88.6 G94.=2 97.7 May 81.6 84.6 89.9 95.2 97. Jun 81.9 84.8 89.2 95.4 97.8 Jul 81.9 85.3 89.1 95.2 97.5 Aug 81.9 5.70 9.9 n95.5 97 R Sup 81.9 86.1 9 .1 95.4 9 .5 Oct 82.5 8v.4 90.7 95.6 98.5 Vov 82.7 86.7 91.0 95.9 99.5 Dec 82.5 86.9 90.9 97.1 99.6 2 2 all figur s ribasjd to Jan 1987=100 Source:aCjnttal Statistican Office Tax s 2 Annuiti s Inflation Hos esP268 CJJFAX 268 Sun 15 May 23:50/28 5/6 0 TcX0GUIfE 22 2 PERSOVAL ALLO NCES Indexation Allowances 1;87 R988 1989 1990 Jan 1 1 3.3 11 G19 5 Fdo s b.4 av0m.7t £1,7 0 2£1* ;X Npr 108W6 G 04.1 112. G12 W4 Yu Ap 101.8 105.8 114.3 12511 May 101.9o 106.2 115.0 812£.2 0 Jun 101.9 106.6 11 .4 126.7 V+l 101. 106.7 115.5 0126.8 Amg ate 1 07.9 G1 5.% GG ;:% Yj Sip 10 . 108.4 116 6 129. Rjhundbncy pa9ment £30,000 £30,000 PNov 103me 110.i 118.5 13 Dr o10r.6 3 1 11% & 25% 25 0 all figure rjrasld to Jan 198701 0 Y S S9 Cai: al Stati4tha2 b ad Tbxet 2 Annuitie Inflataon jou3ruP268 CEEFAX 268 Sun 15 May 23:59/11 F TBX0GUIDE 2 O 4 bCAPITBL GAINS TaX Indexation Allowances a 1991 1992 1993 1994 Jan 138W2 135.6 937.9 G14 .3 Feb 130.9 136.3 138.8 142.1 Mar 131.4 136.7 139.3 142.5 Apr 133.1 138.8 140.6 May 133.5 139.3 141.1 Jun 134.1 139.3 141.0 F Jul 133.8 138.8 148.7 Aug 134.1 138.9 141.3 G Sip 134.6 139.4 141.9 G Oct 135.1 139.9 141.8 Nov 135.6 139.7 141.6 Dec 135.7 139.2 141.9 2 all figures rjbased to Jan 1987=100 Source: Central Statistican Ovficd Taxes 2 Annuities Inflation Houses