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capital gains and family tax credit
ste1964
Posts: 8 Forumite
in Cutting tax
ive had a shop for 6 years but sold october 2007 but have been claiming family tax credit because my income was only 6k
bought shop premises 2001 for 20k sold 105k in 2007 does the gain affect the family tax credit started new bussiness 2008 cost 40k on a lose for this year anyone know were i stand have no money left and wouldnt like to pay back the family tax thanks in advance for any help
bought shop premises 2001 for 20k sold 105k in 2007 does the gain affect the family tax credit started new bussiness 2008 cost 40k on a lose for this year anyone know were i stand have no money left and wouldnt like to pay back the family tax thanks in advance for any help
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Comments
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I'm no expert, but looking at the HMRC site it seems that only income is counted. So capital gains and savings are not counted - but any taxable interest you received would be included.Warning ..... I'm a peri-menopausal axe-wielding maniac
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