Question:

When does a person have to pay Capital Gains Tax in United Kingdom?

by Guest28047944  |  6 years, 12 month(s) ago

0 LIKES UnLike

When does a person have to pay Capital Gains Tax in United Kingdom?

 Tags: Capital, gains, Kingdom, pay, person, tax, United

   Report

1 ANSWERS

  1. Guest28047945
    You may have to pay Capital Gains Tax if you sell or give something away that’s increased in value. To work out the gain or loss you’ve made on an ‘asset’ (like property or shares), you must keep records of its value. This includes: . when you originally ‘acquired’ it (eg bought it, were given it or it was inherited) . when you ‘disposed’ of it (eg sold it, gave it away) You also need to keep records of money you’ve spent on it if you want to take these into account when you’re working out the gain or loss. You should also keep: . contracts for buying or selling the asset . bills, invoices or other records of payments made or received . copies of any valuations

Question Stats

Latest activity: 6 years, 12 month(s) ago.
This question has been viewed 262 times and has 1 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.