Sometime ago I made an investment into a bond here in the UK. I now want to access the money but the profits I’ve made from the bond (chargeable gains) will be subject the Capital Gains Tax. There is a Tax Deferred Allowance which is 5% per year which accrues for up to 20years. My question is about how this reduces the capital gains tax? My understanding is that if I make 100% profit after 20 years the chargeable gain would equal the tax deferred allowance so the full sum would not be subject to any capital gains. Or is this hopelessly and utterly wrong? The words “Tax Deferred” make me think otherwise…
Submitted December 04, 2023 at 06:07AM by HuckleberryReal9257 https://ift.tt/jp3ncJ6
