BTC topics to arise in exam????? unindexed allowances

System

Hi
Can anyone help in advsining what kind of elements to revise for for the business tax exam?
plus.. can anyone explain the unindexed allowances

System

Re:BTC topics to arise in exam????? unindexed allowances

I think you mean unindexed gains?

Essentially this is where you have taken your "sale proceeds" and taken off your "orignal cost"

At this point your are left with your unindexed gain and depending on dates etc. you can now index your orginal cost and reduce your gain further.

Regards

Dean

p.s Ltd companies are not allowed taper relief but indexation continues up until point of sales.

individuals (sole trader/partnerships) can have indexation up until april 98 then they are allowed taper relief to a maxium of 75% (no doubt you will see the qualifying years in your book)