Which of the following options correctly identifies the CGT annual exemption scenario for a share sale in 2020?

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Prepare for the Qualified Financial Adviser Exam 2 with flashcards and multiple choice questions, complete with hints and explanations. Get exam-ready and increase your confidence with our comprehensive study materials!

Multiple Choice

Which of the following options correctly identifies the CGT annual exemption scenario for a share sale in 2020?

The main idea is that there is a per-year CGT annual exemption that shields a portion of gains from tax. For a share sale in 2020, the exemption amount available to an individual was €14,550. This means any net capital gains realized in that year up to €14,550 are not subject to CGT. If total gains exceed €14,550, only the excess is taxed at the CGT rate (and you may also offset losses and apply any other reliefs). The exemption applies to the total gains you realize in the year for that person, and it doesn’t carry over to other years. So the correct scenario identifies €14,550 as the amount exempt in 2020.

Which of the following options correctly identifies the CGT annual exemption scenario for a share sale in 2020?

Prepare for the Qualified Financial Adviser Exam 2 with flashcards and multiple choice questions, complete with hints and explanations. Get exam-ready and increase your confidence with our comprehensive study materials!

Which of the following options correctly identifies the CGT annual exemption scenario for a share sale in 2020?

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