What would you buy if you won £1 million !!!
18-11-2006 | 04:42 PM
#41
PassionFord Post Whore!!
Joined: May 2003
Posts: 6,478
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From: Bristol
Originally Posted by GARETH T
are you sure? i thought ti was as simple as, capitol gains,,, BANG 40%
An OEIC for example would be subject to capital gains if you exceed your annual personal allowance (currently £8,800 IIRC)
It would not be a flat 40% either, simply added onto the top slice of your income as it's subject to the same 10%, 20% and 40% thresholds.
There is also taper relief to consider but we won't go into that here
I have a very dull job
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