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by Anonymous on March 13th, 2008

Anonymous

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Help answer this question below.

In Sep 2006, I sold my shares in a limited company (started in Apr 1996). I was paid 25% of the value of the shares in Sep 2006, with the balance of the purchase price to be paid in Sep 2008. Do the new rules on CGT affect this transaction?

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  • by merry1 in a Texican COAT on May 19th, 2009

    merry1 in a Texican COAT

    Since they were sold and booked in 2006 it is not likely that new rules on Capital Gains Tax will be applied retroactively. If you did not receive the payment in Sept 2008 you may need to declare losses as well. This is a complex tax question, and you need your own tax attorney who is versed in your jurisdiction.

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