capital gains tax
- = CGTA UK tax on capital gains Most countries have a form of income tax under which they tax the profits from trading and a different tax to tax substantial disposals of assets either by traders for whom the assets are not trading stock (e. g. a trader's factory) or by individuals who do not trade (e. g. sales of shares by an investor). The latter type of tax is a capital gains tax. In the UK, capital gains tax is charged on the total amount of chargeable gains accruing to a person in a fiscal year after deducting any allowable capital losses The rate of tax is 10%, 20%, or 40% depending on the taxpayer's marginal rate of income tax. Taper relief may be available to reduce a chargeable gain, as may indexation if the asset was purchased before 6 April 1998.
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capital gains tax — (CGT) When you sell a capital asset such as a property or shares, the profit is treated as a capital gain rather than income and is subject to Capital Gains Tax. This is the difference between the base cost (i.e. the acquisition cost) and the… … Law dictionary
capital gains tax — n [U] a tax that you pay on profits that you make when you sell your possessions … Dictionary of contemporary English
capital gains tax — capital gains ,tax noun uncount a tax that a person or company pays on the profit you get from selling property or from money you have invested … Usage of the words and phrases in modern English
Capital gains tax — A capital gains tax (abbreviated: CGT) is a tax charged on capital gains, the profit realized on the sale of a non inventory asset that was purchased at a lower price. The most common capital gains are realized from the sale of stocks, bonds,… … Wikipedia
capital gains tax — The tax levied on profits from the sale of capital assets. A long term capital gain, which is achieved once an asset is held for at least 12 months, is taxed at a maximum rate of 20% (taxpayers in 28% tax bracket) and 10% (taxpayers in 15% tax… … Financial and business terms
Capital Gains Tax — A type of tax levied on capital gains incurred by individuals and corporations. Capital gains are the profits that an investor realizes when he or she sells the capital asset for a price that is higher than the purchase price. Capital gains taxes … Investment dictionary
capital gains tax — A provision formerly in the income tax laws that profits from the sale of capital assets are taxed at separate (lower) rates than the rate applicable to ordinary income. The Tax Reform Act of 1986 changed the tax treatment of long term capital… … Black's law dictionary
capital gains tax — noun a tax on capital gains he avoided the capital gains tax by short selling • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement * * * capital gains tax [capital gains tax] … Useful english dictionary
capital gains tax — Fin a tax on the difference between the gross acquisition cost and the net proceeds when an asset is sold. In the United Kingdom, this tax also applies when assets are given or exchanged, although each individual has an annual capital gains tax… … The ultimate business dictionary
capital gains tax — n [C, U] (in Britain) a tax on the profits people make from selling investments (= things in which they have invested money), such as shares or property. * * * Tax levied on gains realized from the sale or exchange of capital assets. Though… … Universalium