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CGT liability

Answer
StephenH
Posted Sun, 10 Nov 2024 17:33:30 GMT by StephenH
If I sell an investment trust (and convert it into an ISA) is CGT liable? If so how will the CGT be calculated. It is an investment trust originally invested in over 20 years ago and regular payments monthly of varying amounts paid into it (from £0 up to £100 a month). Thanks
Answer
HMRC Admin 34 Response
Posted Wed, 13 Nov 2024 10:28:06 GMT by HMRC Admin 34 Response
Hi,
If it has increased in value it will be liable for CGT. Please refer to guidance at:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you

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