Sleeping with capital gains

Article Abstract:

The British capital gains tax (CGT) system has changed, with taper relief introduced, and bed and breakfasting, or selling stocks to realise gains and buying them back again the day after, no longer permitted. Stocks can be sold and bought back after 31 days, though prices may have changed in the mean time, or they can be sold to be purchased by a spouse the following day. Stocks can also be transferred from wife to husband and vice versa, allowing the spouse to use their exemption.

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Gains and losses

Article Abstract:

Investors in Britain have to contend with capital-gains tax, and a number of investors may face big bills in 2000. Planning is important since the timing of sales of stocks affects capital gains and tax owed on them. This also applies to losses that can be used to reduce net gains so lower the bill, both for the same or for subsequent tax years. Investors who have made major gains in 1999-2000 can seek stocks that have made losses to sell them prior to April 5. A spouse can buy back the stocks if there are problems in selling them after they have fallen.

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Cap your capital gains

Article Abstract:

United Kingdom investors have to pay capital gains tax (CGT) on some assets that have risen in value, when they are disposed of. Disposals can be timed to make best use of the annual capital gains tax allowance, and losses can also be claimed to offset gains. Investors with two homes can select the home likely to provide the largest capital gain to be their main residence, since gains on a main residence are not subject to CGT. Other ways of reducing a CGT bill include using the CGT allowance of a spouse.

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