im just curious.cheers for help
2006-11-01 04:03:50 · 6 answers · asked by @@@Marty@@@ 1 in Business & Finance ➔ Investing
Which country are we talking about?
2006-11-01 05:13:59 · answer #1 · answered by NC 7 · 0⤊ 1⤋
There is no "limit." Capital gains are taxed as regular income, no matter how large, if you held the security or property on which they were based for less than 1 year. If you held the security or property on which they were based for MORE than one year, then they qualify for the special capital gains tax rate of 20% rather than the regular income tax rate. You can have capital gains of $10 or $10 million, and the same rules apply.
2006-11-01 12:10:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The capital gains tax limit is £8,800 a year above that you pay capital gains. The amount depends upon how long you have held the asset - you pay less if you have held the asset a log time and the standard rate is 30% I think.
2006-11-01 14:17:12 · answer #3 · answered by Mike10613 6 · 0⤊ 0⤋
There is no limit. All long term capital gain (gain on assets held more than one year) are taxed at 15% and all short term capital gains (gain on assets held less than one year) are taxed at yor regular tax rate.
2006-11-01 13:50:09 · answer #4 · answered by waggy_33 6 · 0⤊ 0⤋
In the UK it is £8800 (2006/7). The rate you pay after this is 40%.
2006-11-02 10:56:33 · answer #5 · answered by Petra 2 · 0⤊ 0⤋
Allowances here
http://www.hmrc.gov.uk/rates/cgt.htm
2006-11-01 12:07:40 · answer #6 · answered by ? 6 · 0⤊ 0⤋