Capital gains on selling

[Chippiepat]

Hi, thanks for your response,seems a little bit clearer now,should know for sure the exact position around the end of June, as that's when we should be completing on the sale.

Merci,

chippiepat.

[Daft Doctor]

Referring to the older part of this thread (having just picked up it was over a year old), the thing that annoys me about UK CGT is the lack of any form of indexation now on the original cost of any asset.  As such when you sell you are effectively paying tax of 28% (if you are a 40% income taxpayer) on any 'real' gain in the capital value AND on the rise in value due solely to inflation.  That seems wholly unfair to me, even though the marginal tax rate is lower than the top income tax rates, as for the most part inflation is ubiquitous to life and is certainly outwith an individual's control.  Taper relief when it existed was ridiculously generous, and when the global CGT rate was a softish 18%  I agree the lack of indexation on cost didn't seem too unreasonable.  Now they've hiked up the rate by another 10% however, IMHO some form of indexation should be back on the agenda.     

[Rabbie]

Unfortunately HMRC are unlikely to agree to anything that will reduce their cut in the present economic climate