MoneyTalk December
2005
by
Arch Financial Planning Limited
A
TAX YOU SHOULD AVOID
The
team at Arch Financial Planning Limited would like to wish you a
Very Happy Christmas and a Peaceful and Prosperous New Year.
We hesitate to bring up the subject of tax at this time but we are fairly
safe
discussing
capital
gains
tax (CGT)
because
very people actually
pay it in any particular year. CGT for gains made in the tax year
2004/05 are due to be paid by 31 January 2006. The Revenue has published
details of its CGT income for the last 31 January which show that 151,000
individuals paid an average of £13,311 each - a great start
to their new year! If you wonder what CGT is all about then read on. If you
were one of
those individuals then you may not be pleased to hear that CGT can
be avoided in most cases with proper planning.
Capital
Gains Tax
You
may have to pay CGT when you dispose of an asset.
You make a ‘disposal’ when you sell, give
away, or receive
a capital sum from your ownership of an asset. Virtually all
forms of asset, which can yield a capital sum, are subject to CGT unless
they are specifically exempt. Our website contains background information
on CGT showing what CGT is all about, the rates
of CGT and how it is
calculated. We show what assets are exempt from
CGT and discuss the family home and other properties
you may own.
Most
importantly we include details of tax planning ideas to reduce the
effects of CGT and where possible to remove it all together.
If
you would like to find out more about this important but mainly avoidable
tax please follow the link to our website. You will also find a printer
friendly version that you can read at your leisure - www.arch-fp.co.uk/capital_gains_tax1.htm.
Did
you know that you can obtain a wide range of quotations
via our website? These quotations are currently
provided without cost.
Why not take advantage of this while it is available to look
up the cost of life or health insurance cover,
what annuity
you would get for your current pension fund or an
investment into various types of life assurance bond.
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When
they saw the star, they were overjoyed. Matthew 2: 10
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Arch
Financial Planning Limited
Arch House, Collins Court, 39 High Street, Cranleigh,
Surrey GU6 8AS
Tel: 01483 204600, Fax: 01483 204611
AUTHORISED
AND REGULATED BY THE FINANCIAL SERVICES AUTHORITY
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