Tax Tips for Contractors

Tax Tips for Contractors

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Graeme

Tax-free allowances for Capital Gains Tax 12/13

Partner at Forbes Young

The annual tax-free allowance (known as the Annual Exempt Amount) allows you to make a certain amount of gains each year before you have to pay tax.

In the recent budget, it was announced that this was unchanged in the new tax year- however this was a mistake! The allowance for the tax year ended 5 April 2013 is in fact £11,200 (and not £10,600 as last tax year).

Graeme Bennett ACMA MBA
Forbes Young

0800 8404014
graeme.bennett@forbes-young.com
www.forbes-young.com

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  • May 2, 2012
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