the cheque has been cashed into a bank account
2007-09-07 11:39:45 · 10 answers · asked by wolf615 1 in Business & Finance ➔ Investing
I would recommend investing sufficient into your Pension (SIPP) to reclaim any tax due.
I believe it might still be possible to re-invest the proceeds into some sort of Enterprise Scheme that puts off the Capital Gains Tax until you cash that in, however you will need to speak to your accountant or an IFA.
NB> You do know Capital Gains is paid on GAINS ? .. So if your cheque is for say £100,000 but you paid £90,000 for the shares in the first place, your Gain is only £10,000 (and since you have a CG Allowance of just over £9,000 per year you only actually pay tax on £1,000 .. and (I assume) that this will be at 40% so the actual Tax is only £400) ... if you have some other shares (quite likley) that worth (eg. £10,000) that are currently are showing a (say 10%) loss (quite likely) then cashing these in now to realise the loss (10% or £10k = 1k) means your NET Gain is reduced by the loss (in the example you liability on Gains of £1k is reduced to 0 by the loss of £1k)).
2007-09-09 19:11:31 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
I'm a bit confused about this posting. If you go on petfinder, the rescue only list 6 animals. Is it just that the rescue doesn't have the resources even to list their animals? If so, we need to mobilize volunteers to get down there and get pictures. People will foster and adopt, rescues will take dogs, but we need to get pictures. If someone can do that, start posting on craiglist, send the story to the media, and action will be taken. Paws Chicago has weekend radio and TV spots and might be able to help you.
2016-04-03 09:35:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You have to pay the tax. But if you Invest the profit in your pension scheme, the government will pay into it an amount equal to the tax.
Mind you, the annuity which you will have to buy at the end, will be legalised robbery, but it is for a good cause. The huge annual bonuses of the financial industry.
2007-09-10 23:53:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
"victim"?
Interesting position to take!
You have cashed the cheque! It is FAR too late to consider "tax avoidance measures", LOL! You owe the tax, and there is NO legal way to get out of that!
Silly goose!
2007-09-07 12:25:31 · answer #4 · answered by Anonymous · 1⤊ 0⤋
it can be countered with a capital loss dollar for dollar so if you are in the position to sell something for a loss thats one way of doing so
otherwise you can fund an ira, donate to charity, etc other tax deductions may be able to limit the hit a bit
2007-09-07 12:17:14 · answer #5 · answered by lidlwig 2 · 2⤊ 0⤋
Talk to an accountant about Tayper relief.
2007-09-07 11:48:03 · answer #6 · answered by purple nurple 4 · 0⤊ 0⤋
invest it in a tax shelter...ie rrsp or something similar you put off paying the tax til you remove it from the shelter ie when you retire
2007-09-07 12:55:16 · answer #7 · answered by homer 3 · 0⤊ 0⤋
Pay your tax. Freeloading git.
2007-09-07 11:44:13 · answer #8 · answered by chi-chi 3 · 0⤊ 1⤋
invest it with me and i pay your tax
2007-09-07 11:55:43 · answer #9 · answered by HENRY B 1 · 0⤊ 0⤋
you cant sorry.
2007-09-07 11:43:20 · answer #10 · answered by Anonymous · 0⤊ 0⤋