“Taking the work out of tax” - Shares
Wednesday, February 20th, 2008 by dary
The following article was published in the 31 January - 6 February 2008 edition in the Shares magazine. As ever a big thanks to the folks at Shares, especially the editor Steven Frazer.
Want to time your share sales to minimise your capital gains tax bill? A new website has been launched to help private investors get to grips with their tax liabilities. The site – www.timetotrade.co.uk – will give you an insight into how HM Revenue & Customs (HMRC) will treat your gains.
Developed by Sensatus, the portal takes into account indexation, taper relief on Aim shares as well as factoring in the impact of offsetting losses made on other shares. It’ll give you an idea of whether if you were to sell now you would exceed your £9,200 annual tax exempt allowance for the tax year ending 5 April 2008.