There was a time, not so long ago when it was possible to calculate one's
REAL CGT from the inflation table. Then - and I am a Scotsman, AND I have
always believed that GBrown was a total idiot, just to watch him trying to
speak (I've known a few - some were even my friends 50 years ago <LOL>).
So, the idiot introduced Taper relief, as if that made any sense whatsoever. The He decided that that both those reliefs were rubbish (Actually, HE was rubbish, as I always said). Apart from his other blunders!!! Now - if you bought a house for 50 in 1850 and sold it for $500,000 today, you are deemed to have made a Capital gain of 495,000. What nonsense - just what I would have thought a Scottish son-of-the-manse' idiot would have been capable of supposing.
GOG p.s. I have no such house, in case you imagine that I am a millionaire - some hope.
So, the idiot introduced Taper relief, as if that made any sense whatsoever. The He decided that that both those reliefs were rubbish (Actually, HE was rubbish, as I always said). Apart from his other blunders!!! Now - if you bought a house for 50 in 1850 and sold it for $500,000 today, you are deemed to have made a Capital gain of 495,000. What nonsense - just what I would have thought a Scottish son-of-the-manse' idiot would have been capable of supposing.
GOG p.s. I have no such house, in case you imagine that I am a millionaire - some hope.