GLOSSARIO CGT CAPITAL GAIN TAX (IMPOSTA) di HMRC



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Capital Gain

You may make a capital gain when you sell or dispose of an asset that's increased in value since you acquired it.

If any amount you receive for the disposal is liable to Income Tax, you won't include that amount when you work out your capital gains or losses.

For example, if you sell an antique as an antiques dealer, you'd include the amount received in working out your Income Tax bill. You wouldn't include it in your Capital Gains Tax calculation too.

Capital Loss

See Allowable Losses.

Capital Sum

This is when you get from your asset:
  • a sum of money
  • something that can be converted into money (money's worth), for example an item you can sell
If you're liable to Income Tax on the sum received, you won't be liable to Capital Gains Tax on it too.

Cash Call

See Rights Issue.

Chargeable Asset

A chargeable asset is an asset that may be liable to Capital Gains Tax when you sell or dispose of it.

Chargeable Gains

Your chargeable gains are your gains on assets that are liable to Capital Gains Tax before you deduct:

Chattels

Chattel is a legal term for an asset that is tangible, you can touch and move it. Your personal possessions might be chattels.

Examples Include:
  • household furniture and furnishings
  • paintings, antiques, crockery and china, plate and silverware
  • for businesses - plant and machinery not permanently fixed to a building

Find out about Capital Gains Tax on personal possessions.

Connected People

See Connected Person.

Connected Person

A connected person could be, for example:
  • your husband, wife or civil partner
  • your brothers, sisters, parents, grandparents, children, grandchildren and their husbands, wives or civil partners
  • the brothers, sisters, parents, grandparents, children, grandchildren of your husband, wife or civil partner - and their husbands, wives or civil partners
  • certain trustees
  • a company you control

Costs

For Capital Gains Tax purposes, you deduct your costs to work out the gain or loss on the sale or disposal of an asset. Only some costs are allowable.

Allowable costs may include:
  • the price paid to acquire the asset
  • the costs of any improvements made to your assets
  • incidental costs of acquiring or disposing of the asset - such as Stamp Duty or Stamp Duty Land Tax

Sometimes you use the market value of the asset instead of the actual cost - for example, if you received the asset as a gift.

See Market Value.


AVVERTENZE D'UTILIZZO: Il presente glossario contiene la definizione dei termini indicati da HMRC Her Majesty's Revenue and Customs.
La spiegazione di ciascuno dei termini indicati in questo glossario è di carattere meramente orientativo e priva di valore legale; si raccomanda, quindi, di tenere conto del contesto e dell'evento in cui essi vanno applicati, in quanto il significato loro attribuito potrebbe differire rispetto a quello qui rappresentato.

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