While sell/buy of actual gilts does not expose you to CGT it does have income tax implications under HMRC’s Accrued Interest Scheme. When you sell a bond the difference between the dirty price and the clean price i.e the accrued interest, is taxed to income to the seller – because you...
The HMRC module on crypto assets is also a guide to enable taxpayers to know just how much they owe in taxes. To pay Capital Gains Tax on your crypto assets, you must calculate your gains on each transaction. When calculating CGT, a certain allowance cost may be deducted which includes a...
You’ll have to pay taxes on the profits if you sell an NFT. United Kingdom In the UK, Her Majesty’s Revenue and Customs (HMRC) is the department responsible for tax collection. Although there is no public HMRC guidance on the UK tax status of NFTs, it’s a good bet that they’...
Index funds are designed to match – as closely as possible – the return of a particular section of an investible market. The part you gain exposure to is defined by the ETF’s benchmark index. That’s the S&P 500 in the case of the trackers we’re focussing on today. By replicating...
I think my annual income, that would leave me comfortably able to afford more than enough ‘wants’, would need to be around £200k p.a. This is twice the height of the ‘floor’. This sounds like a vast amount relative to the UK national average of around £30k per household. On...
Your assets remain tax-free as long they’re held in an ISA account… and so long as you don’t have the cheek to die. You don’t even lose out if you move abroad. (At least, not from the perspective of the UK government.) ...
These case studies will also show how to calculate how long your ISAs will need to last (roughly), given your current circumstances. How much do you need in your personal pension? By the time you retire, your portfolio – when combined across all accounts – should be funded ...
How to invest during a bear market Bear market recovery times make for depressing reading. But the goods news is your bounce-back will be fast-forwarded by something you’re probably already doing:pound cost averaging. Regularly investing over time shortened the UK’s longest bear market recovery...