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Concerns over car sales hit US shares - Mon, 05 Jan 2009 05:51:19 +0000
Wall Street kicked off the first full week of trading in 2009 with early losses as investors braced themselves for what are expected to be weak end-of-year sales figures from the automotive industry, according to reports.
Survey: 91% of DB pension schemes closed to new members - Mon, 05 Jan 2009 05:41:24 +0000
A new survey report published by the Association of Consulting Actuaries (ACA) has revealed that small firms have closed some 91 per cent of defined benefit (DB) pension schemes to new members.
Neglecting rent insurance protection "a gamble" - Mon, 05 Jan 2009 05:38:42 +0000
Landlords who fail to take out rent insurance protection may be taking "a gamble", according to the managing director of Let Insurance Services.
Indexation Allowance
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Indexation was introduced to ensure that gains caused only by inflation were not taxed. It only applies for assets you held at some point between 01 April 1982 and 5 April 1998.
For assets sold after 5 April 1998, you will get indexation allowance up to that date and you may also get taper relief from then until you sold it.
You cannot use indexation to increase a loss or turn a gain into a loss. It will just reduce the gain to nil.
This can be complicated and if you want some help please contact the Revenue.
To work out indexation you need to use the reference table to find the factor relevent to your date of purchase, You then need to multiply your purchase cost (including any costs of purchase) by this factor. The reference table can be downloaded here.
30th April 2008 UPDATE
Under the latest CGT rules (see Article on CGT) there is now no indexation in calculating capital gains.
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Market News
21.05 Wall Street -81.80 at 8952.89
FTSE100 closed +17.85 at 4579.64
Gold US$858.35
GBP/US$ 1.4675
Brent crude US$43.55
Wall Street closed +258.30 at 9034.69
FTSE100 closed +127.62 at 4561.79
Gold US$877.45
GBP/US$ 1.4515
Brent crude US$36.80