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CGT is payable on chargeable gains, i.e gains in the disposal of relevant assets, and NOT on dividends. Income tax is payable on dividends. At least that was the position when I was practising as a Chartered Accountant.
The tax position is quite simple. Income Tax is payable on dividends received and CGT is payable on chargeable gains ( if shares are sold at a gain ). Neither tax is payable if shares are held in an ISA.
Good morning all. Wishing everyone a happy and prosperous new year. Ian, can you please put me down for 4 th January, my birthday - just like last year!
Not trying to be controversial , and certainly not trying to impress anyone, most of all yourself. Just wondering what , if any, will be the effect on the sp.