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CGT vs Exit Tax

RedRochey · 2020-01-28 16:07:12

Trying to work out the pros and cons of CGT vs Exit Tax (through a Life Office) CGT pro: Allowance of €1,270 and can offset previous losses against future gains con: Self-Assessment, also have to pay income tax on dividends, investment trusts are more volatile than SICAVs Exit Tax pro: If under the same provider, gains &…

28-01-2020 4:07pm

#1

RedRochey

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Join Date: September 2018

Posts: 1276

Trying to work out the pros and cons of CGT vs Exit Tax (through a Life Office)

CGT pro: Allowance of €1,270 and can offset previous losses against future gains
con: Self-Assessment, also have to pay income tax on dividends, investment trusts are more volatile than SICAVs

Exit Tax pro: If under the same provider, gains & losses are netted under one policy, taxed at source, dividends are received within the fund
con: 8th year deemed disposal, can't carry losses forward between providers

Any other pros or cons?

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Comments

#2 28-01-2020 5:20pm

Calahonda52

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Posts: 12023

its losses first, current and C/F, then your allowance, in any year

“I can’t pay my staff or mortgage with instagram likes”.

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