Questions you were curious about Flashcards
(4 cards)
1
Q
Your mum dies, you get a house, does she pay CGT?
A
No, its wiped out but if you sold the house you do
2
Q
You sell a house for 50k and made 4k, do you pay CGT?
A
You must report it to HMRC and calculate whether or not you must pay CGT. If below you do not pay.
3
Q
EIS gives you what in tax and CGT relief and how to get it?
A
30% tax relief, possible CGT differing. Must hold 3 years plus and company less than 15 million
4
Q
What are the tax wrappers?
A
EIS, ISA, Employee incentive scheme and Venture capital trusts (VCT).
