Hi all, apologies if this question is confusing, I am a bit confused myself.
I realise that it's still all speculations with regards to ER changes in the coming budget. But I wondered if anyone can shed some light.
With regards to TAAR, my understanding is that if the rules do apply to someone then they would be subject to income tax on the distributions, so it's not just the 10% ER that they would lose but also they wouldn't be able to use CGT of 20%.
Would it be more likely then that if the government does remove ER, CGT at 20% cannot be used and it would be income tax instead? Or would that depend on how the rules get amended ?
Not sure if that makes sense, but I guess what I mean is, if ER does get removed, would we be looking then at CGT, or income-tax on distributions?
Thank you.
I realise that it's still all speculations with regards to ER changes in the coming budget. But I wondered if anyone can shed some light.
With regards to TAAR, my understanding is that if the rules do apply to someone then they would be subject to income tax on the distributions, so it's not just the 10% ER that they would lose but also they wouldn't be able to use CGT of 20%.
Would it be more likely then that if the government does remove ER, CGT at 20% cannot be used and it would be income tax instead? Or would that depend on how the rules get amended ?
Not sure if that makes sense, but I guess what I mean is, if ER does get removed, would we be looking then at CGT, or income-tax on distributions?
Thank you.
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