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The Taxation of Chargeable Gains Act 1992 (c. 12) is an act of Parliament which governs the levying of capital gains tax in the United Kingdom. This is a tax on the increase in the value of an asset between the date of purchase and the date of sale of that asset. The tax operates under two different regimes for a natural person and a body ...
Download as PDF; Printable version; ... Income and Corporation Taxes Act 1988; Income Tax (Trading and Other Income) Act 2005 ... Taxation of Chargeable Gains Act 1992;
The substantial shareholdings exemption is an exemption from assessment of capital gains under corporation tax applicable to United Kingdom companies.The exemption is found in Schedule 7AC of the Taxation of Chargeable Gains Act 1992.
In the UK, gains made by companies fall under the scope of corporation tax rather than capital gains tax. In 2017–18, total capital gains tax receipts were £8.3 billion from 265,000 individuals and £0.6 billion from trusts, on total gains of £58.9 billion. [1] The current operation of the capital gains tax system is a recognised issue.
Download as PDF; Printable version ... An Act to consolidate certain enactments relating to the taxation of chargeable gains. ... Car Tax (Abolition) Act 1992 ...
Capital Gains Tax legislation, for example, is contained within Taxation of Chargeable Gains Act 1992. The Finance Act details amendments to be made to each one of these Acts. The main taxes are Excise Duties, Value Added Tax, Income Tax, Corporation Tax, and Capital Gains Tax.
"Taxation of Chargeable Gains Act 1992". HMSO. 1992 "Capital Allowances Act 2001". HMSO. 2001; Finance Acts (1965–), HMSO. From 1998 onwards, consolidation took place, into the Income and Corporation Taxes Act 1988, the Taxation of Chargeable Gains Act and the Capital Allowances Act 2001.