The tax rate of the capital gains tax depends on how much profit you gained and also on how much money you make annually. For example, in the UK the CGT is currently (tax year 2019-2020) 10% of the profit if your income is under £50,000, then it is 20% if your income exceeds this limit. There is an additional tax that adds 8% to the existing tax rate if the profit comes from residential property. If any property is sold with loss, it is possible to offset it against annual gains. The CGT allowance for one tax year in the UK is currently £12,000 for an individual and double (£24,000) if you are a married couple or in a civil partnership. For equities, an example of a popular and liquid asset, national and state legislation often has a large array of fiscal obligations that must be respected regarding capital gains. Taxes are charged by the state over the transactions, dividends and capital gains on the stock market. However, these fiscal obligations may vary from jurisdiction to jurisdiction.
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