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Capital gains tax

4 replies

makingmiracles · 10/04/2021 18:30

Does anyone know, when calculating capital gains on an investment wether you deduct the original investment amount from the total and then calculate capital gains on just profit?

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ForensicAccountant · 10/04/2021 22:19

You get taxed on profits but can you just confirm the nature of the investment.

TiddyTid · 10/04/2021 22:29

Valuation - original investment + any previous withdrawals.

TiddyTid · 10/04/2021 22:30

Or if it's property, minus original costs purchasing like fees and money spent on improvement but must have receipts etc

makingmiracles · 11/04/2021 00:02

So cyptocurrency, say you put in £3k and ended up with £30k, you would work out the tax based on £27k?

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