I wonder if there are any experts here on CGT. I have a friend who needs some advice - I've looked on the HMRC website but I find the details there quite confusing.
I understand that the current exemption is £10,600 in any one financial
year. Is that the limit regardless of when the asset to be disposed of
For example: let's say that someone bought some land in 1980 for £10,000
and then sold it this year for £30,000. The gain in actual terms would
of course be £20,000, although in real terms there probably wouldn't be
a gain at all, what CGT would be levied?
- posted 7 years ago