Thursday 23 October 2008

More Revenue madness

Now someone from the Inland Revenue has finally got back to me, and explained the difference between a dividend and a capital gain.

Yes, I am aware of the difference. I trained as an accountant. I have filled my own tax form in for ten years or more. I have worked as an investment analyst. I sort of figured out that there's a difference between a dividend and a capital gain.

"So which one do you need to know?"

Both!

Said person seems unable to grasp that if you sell part of the way through a year, you may have dividends paid on an investment and make a capital gain on it....

Somewhere deep in the innards of the 17 pages of notes to the CGT form there is apparently a mention of OEICs... but nothing on the notes to the short tax return.

Oh yes, the notes to the short tax return by the way aren't visible on the Inland Revenue site. It links to a page telling me what a PDF file is.

Frankly, Guy Fawkes was right. I feel like taking my remaining money out of the stock market and investing in as much gelignite as I can buy. Anyone want to join me on November 5th?

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