In a message dated 24/03/98 21:52:15 GMT, you write:
<<
"Well I'm sorry Holmes but I just don't understand."
"Whatever's the problem now Watson?"
"This new government of ours - they say that they're all in favour of
developing primary care and then they go and abolish tax relief on the sale
of premises at retirement >>
Are you sure? [goes off to check facts before arguing]
Oh yes you are, I have just looked at the relevant page of the nice little
booklet from Barber Harrison and Platt. pp47-8 for those who have it. Capital
Gains relief on retirement aged 50 or over is 100% up to 250k and 50% up to
1000000 at the moment, it is being phased out. From 1/4/03 it will be ZERO. I
was hoping to retire in 2015 or 2017. Given that I will be taxed at 40% on
the "gain" of paying over 1000 UKP per year into my surgery, I can't see the
point. Unless, they abolish sale of goodwill and I add about, ooh lets say 40%
to the value of my premises when I retire. After all they are worthless unless
you have patients attending them and a good steady list, aren't they?
Hands up all those who wish to resign before it costs them any more?
Trefor
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