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Report a post:
Kevin Morton said: Posted on: 21/02/2016 09:04

We have built up substantial tax losses by heavy refurbishment of properties over several years. Even though we are about to start 'making a taxable profit', which will push us into the higher rate band with new tax laws, we won't have to pay tax for a few years, due to these losses.
During this period will we be considered as higher rate tax payers for CGT purposes? I think I'm right in saying that lower band pay 18% and higher band pay 28%.
Thanks

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