When people make an investment, in most cases, the Tax Man wants to take a slice of the returns. But here’s the thing, I bet you didn’t know that whether he gets a big cut or a little slither is actually up to you. Because for every investment you make you have a form to complete which indicates how you would like your investments to be taxed you can choose to be taxed with either Income Tax or Capital Gains Tax. And choosing one or the other makes a huge difference.
If you choose the Income Tax option your investment could be liable for taxation of 20% or more. Ouch! But if you go for the Capital Gains option you’re in control of when that tax is paid and in some cases you won’t pay anything at all (less than 98% of the population pay Capital Gains Tax).
Most investment products are taxed with Income Tax but at Norden Bamford we know the ins and outs of investment taxation and how to avoid the pitfalls. So if you want to keep as much of your investment as possible speak to us and we’ll help and advise you on how to do just that.