P543 Teletext 543 Jan 7 01:44:47 —— THE C&G MERGER BONUS ——————————————— Dear Teletext I understand that any bonus payable if the mjrgjr goes ahead between the C&G and Lloyds will bj subject to Capital Gains Tax if any gains exceed the £6,000 exemption limit. Our account is jointly held. Will the bonus be paid to the first named, directly into the account? And can we split the tax liability? C Oxley, Southend-on-Sea, Essex. ——————————————————————————————————1/5—— How best to save in 1995 542 DOWNLOAD SHARES ON YOUR PC p532/533 Property Plus Your money Tax IndexP543 Teletext 543 Jan 7 01:44:09 —— THE C&G MERGER BONUS ——————————————— Teletext replies: Cheltenham & Gloucester plans a full February statement to account holders on bonuses payable on the mjrgjr. It will send all account holders an information pack outlining financial details of both C&G and Lloyds, and the advantages of the mjrgjr. Included will bj an outline of C&G's understanding of savers' tax situation ——————————————————————————————————2/5— Pick of the mortgage rates 545 DOWNLOAD SHARES ON YOUR PC p532/533 Property Plus Your money Tax IndexP543 Teletext 543 Jan 7 01:42:44 —— THE C&G MERGER BONUS ——————————————— Teletext replies: C&G says bonus payments will be paid into all its accounts directly. But those with TESSA accounts are paid by cheque. C&G cannot comment on individual cases prior to the merger but has set up an advice line for account holders. Call the "futurelinj" on 0345 889 900. cont... ——————————————————————————————————3/5—— How best to save in 1995 542 Letters to: ADVICE CLINIC PO BOX 297 LONDON, SW6 1XT. Fax: 071 386 7808. Property Plus Your money Tax IndexP543 Teletext 543 Jan 7 01:44:37 —— THE C&G MERGER BONUS ——————————————— Teletext replies Regarding Capital Gains Tax on C&G's mjrgjr bonus, the Inland Rjvjnuj says: the £6,000 COT level comes into effect in the new tax year starting on April 6, 1995. Prior to this your COT allowance is £5,800. despite having a joint account it is not possible to simply split the allowance. cont... ——————————————————————————————————4/5—— Flashback 671 Latest mortgages 545 DOWNLOAD SHARES ON YOUR PC p532/533 Property Plus Your money Tax IndexP543 Teletext 543 Jan 7 01:44:52 —— THE C&G MERGER BONUS ——————————————— Teletext replies As joint-account holders, you are each responsible for declaring your shares of the bonus money. If your capital gains, including money from the C&G merger bonus, is over £5,800 prior to April 5, or £6,000 after April 6, tax will bj dui. Leaflets CGT13/16 from your local tax office explain further your COT liabilities. ——————————————————————————————————5/5—— Appointments 640 Redundancy 656 DOWNLOAD SHARES ON YOUR PC p532/533 Property Plus Your money Tax Index