This news text provides information on how to avoid CGT liability when selling shares from a long-term investment in the Stewart Investors Worldwide Leaders Fund. It also discusses how CGT is calculated and taxed under the UK tax system.
This is a significant tax blow when you are sitting on sizeable gains after a successful long-term investment in the Stewart Investors Worldwide Leaders Fund.
Sometimes in cases like this an investment company can offer a rollover into an alternative fund that's not deemed a disposal for capital gains tax purposes. But for you, there doesn't appear to be any rollover option. It is irksome that CGT takes no account of how long an asset's been held since taper relief was abolished in 2008, and even gains that simply peg inflation can be taxed.
Rates of CGT are 18 per cent for basic-rate taxpayers on gains above the £3,000 tax-free allowance, and 24 per cent higher-rate on gains over the basic rate band. Your level of income for the tax year will be a determining factor
Capital Gains Tax (CGT) Liability Investment Closures Rollover Options Tax Efficiency Wrappers Isas SIPP And Schemes
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