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CGT - Coggle Diagram
CGT
assets
exempt
general
chattels disposed for less than £6,000 each
gain is the lower of the actual gain
5/3rds of the excess over £6K
wasting assets
decorations of valour
foreign currency for personal use
gambling
compensations
direct or indirect investments
NS&I savings certificates & premium bonds
gilts and corporate bonds
pension funds
shares in EIS and SEISs
share in VCTs
life assurance policies
cashbacks for inducements for goods and services
private residence
#
absenses
total gain x (period of occupation/ period of ownership)
up to
12 months
delay between being acquired and taken up
36 months
period for any reason
48 months
employed elsewhere in UK
any period
working abroad
job related accommodation
last 9 moths
of ownership
before 1st april 1982
multiple homes
election in 2 years
election can be changed and back dated
no more than 2 years prior
if married exemption in only one property
letting part of main residence
liable to CGT
lettings relief
lesser of £40,000 each
disposals
ascertainable
fixed amount
uncertainable
not fixed amount
disposals involving spouses
do not give rise to CGT liability
no gain, no loss
only applies in the tax year of separation
Valuing disposals
market value instead of value paid
Disposal involving shares
following 30 days
share pool
Same day