You have just been charged taxes on your wages. This is...
income tax
capital gain tax
a rip off
Everyone is liable to pay taxes
Who is exempt from paying taxes?
nobody
children
anyone who earns less than the tax allowance
only clever people
Any investor is charged taxes
You pay taxes on investments, not savings
You pay taxes on investments, not earnings
We pay taxes on ❌ on investments, ❌ and on earnings including ❌
Gain Taxes are applied on any posted on investments
You are charged taxes on earnings, investments and income accrued with savings.
Complete this sentence: You can plan your investments to qualify for
tax breaks
tax avoidance
tax ignorance
Dr Zana has just received his pay slip. What tax is he likely to see mentioned in that document?
Capital Gain Tax
Income Tax
Income Tax, unless he earns less than the statutory minimum
What does CGT stand for?
Capital Gross Tax
Cap the Gain Tax
CGT stands for Capital Gain Tax.
The minimum amount of money you need to earn before you are charged income tax is known as 'Personal Allowance'
In England and Wales there are ...
Four Tax Bands: 0%, 20%, 40% 45% of income
Three Tax Bands: 20%, 40%, 50%
THE THRESHOLDS OF INCOME THAT DETERMINE THE SIZE OF YOUR INCOME TAX ARE CALLED
TAX BANDS
TAX CONCERTS
TAX APPEAL
If you are paid dividends, you are going to be charged
CGT
INCOME TAX
DIVIDEND TAX
Capital Gain Tax is not levied on the amount of money you receive for the asset but the gain you make that is taxed
You bought shares for £5,000 and have sold them doe £8,000. Which amount is taxed?
£8,000; the whole sum
£3,000; the profit
£5,000; the capital invested
You may have to pay Capital Gains Tax on asset overseas.
If you make a gain after selling a property, you are charged 18% capital gains tax (CGT) as a basic-rate taxpayer, or 28% if you pay a higher rate of tax.
Gains from selling assets (except your first home) are charged at 10% for basic-rate taxpayers and 20% for higher-rate taxpayers.
