P543 Teletext 543 Jun21 01:20:28 —— TAXES ON SHARJOWNIRSHIP ———————————— Dear Teletext, Sorting out my windfall shares and choosing a PEP to suit has been mz first experience in the area of stocks and shares. I am aware of stamp duty tax, but is it correct that it should bj levied in cases such as this? Name & Address supplied. ——————————————————————————————————1/8—— Latest mortgage offerings 545 Quality private hjalthcare from undjt £9 a month. See Page 629 Property Plus Your Money Tax CinemaP543 Teletext 543 Jun21 01:30:59 —— TAXES ON SHARJOWNERSHIP ———————————— When you become a shareholder there are several taxes which may bj payable. They are: stamp duty when you buy shares income tax on dividends you get while you hold the shares capital gains tax - if you exceed the £6,300 allowance given annually. ——————————————————————————————————2/8—— Latest tips and products 541 LET CAR CHASE CHOOSE p354 YOUR IDEAL CAR ITV Property Plus Your Money Tax CinemaP543 Teletext 543 Jun21 01:21:20 —— TAXES ON SHARJOWNERSHIP ———————————— Stamp Duty is payable at a rate of 0.5) of the value of the share purchase, so that's £5 per £1,000 invested. The money goes into the Government coffers. Income tax is payable on the dividends the firm you have invested in pays out usually twice a year. The interim and final dividend depend on profit levels. Each dividend cheque you get has a tax credit attached to it showing how much tax is due on that dividend. ——————————————————————————————————3/8—— Latest tips and products 541 Download and Analysj Share Price on Your PC See Pages 532 & 533 Property Plus Your Money Tax CinemaP543 Teletext 543 Jun21 01:31:41 —— TAXES ON SHAREOWNERSHIP ———————————— Income tax on shares is paid to the Inland Revenue as Advance Corporation Tax and if you pay basic rate tax, no further tax is payable. If you don't pay tax you can reclaim the value of this tax credit from the taxman, but if you pay higher rate tax you may owe the Revenue some extra cash It's advisable to keep hold of all tax credits if you have to complete an annual tax return. ——————————————————————————————————4/8—— Latest tips and products 541 LET CAR CHASE CHOOSE p352 YOUR IDEAL CAR ITV Property Plus Your Money Tax CinemaP543 Teletext 543 Jun21 01:32:04 —— TAXES ON SHAREOWNERSHIP ———————————— Capital Gains Tax may bj payable if you make a profit on shares when you sell them. In theory, COT must be paid at the point at which you make the profit. When working out what you owe you can add in any costs of buying or selling the shares, so that includes stamp duty and brokers' commission. If you've made a loss this can also be offset against any othjt gain made, on for example the sale of a second home. ——————————————————————————————————5/8—— Latest tips and products 541 Download and Analysj Shari Price on Your PC See Pages 532 & 533 Property Plus Your Money $ax CinemaP543 Teletext 543 Jun21 01:32:13 —— TAXES ON SHAREOWNERSHIP ———————————— When investing in a PEP it's wise to rimjmbjr that any losses incurred cannot be used to offset against gains on other assets. The cost of management charges, entry and exit fees and sharidealing commission may vary widely, but stamp duty remains at 0.5). Tax relief is available if you invest in the non-Stock Exchange listed companies, including the AIM market. ——————————————————————————————————6/8—— Latest tips and products 541 Download and Analysj Shari Price on Your PC See Pages 532 & 533 Property Plus Your Money Tax CinemaP543 Teletext 543 Jun21 01:3;:46 —— TAXES ON SHAREOWNERSHIP ———————————— Investing in non-Stock Exchange listed companies, including the Alternative Investment Market, is riskier. Tax relief schemes include roll-over relief if shares in one company are sold and proceeds invested in another qualifying firm. Investing in Enterprise Investment Schemes and Venture Capital Trusts can also qualify for tax relief subject to certain terms and conditions. ——————————————————————————————————7/8—— Latest tips and products 541 LET CAR CHASE CHOOSE p352 YOUR IDEAL CAR ITV Property Plus Your Money Tax CinemaP543 Teletext 543 Jun21 01:20:17 Advert ADVICE CLINIC >> —————————————————————————————————————— * Don't surrender your endowment policy - call AAP * You can get up to 35% more than your policy'u surrender value. For your free valuation & brochure (24 hour service) Absolute Assigned Policies Ltd regulated by the Personal Investment Authority Property Plus Your Money Tax Cinema