Careful
timing is the key
Have
you made losses on shares and unit trust sales? Did
you know that you could at least turn those losses
into tax savings now or in the future?
If you have an overall loss on disposals this tax
year, you might be able to sell other assets at a
profit. You will have no tax to pay on the profit
if, after you deduct the losses, the result is not
more than the £7,900 capital gains tax exemption.
However, it might be better to delay realising any
gains. Where losses are brought forward, you need
only set off enough losses to bring the net gains
down to the annual exemption.
Need more information?
Please e-mail or contact us.
(article
dated 1/11/03)
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