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Then you will have to pay Capital Gains Tax on the payout. You get an allowance of about 11,000 pounds, then you pay tax at, I think, up to forty per cent, for the sort of valuation you are likely to get.” Reg jumped in to ask, “I am only getting half, so would it still be forty per cent?”“Even at half, you may be into that tax rate. The lower level is twenty per cent, so you may be paying so much at twenty, then the rest at forty per cent. I think that is how they work it. I am not supposed to advise on tax, except to say that you have to declare it to the tax man, who will advise you on what is due.” Reg sighed. “I fully understand that, and I am grateful for your advice as far as you can give it. As students without any earned income, we should be able to use the allowance in full, and get the full amount of the lower rate of capital gains tax, so just a small amount at the larger rate?”“There is no ‘we’, Mr Robertson. The tax is on you personally, not shared by your family.”“We. He did it out of love. I was never really a bad slave. I always tried to obey his every command, but sometimes I just needed the feel of his whip on me. To me, it showed that he loved me enough to make sure I knew what he wanted of me. Sometimes I just needed to know there were still boundaries.I heard the crack of the whip before I felt it. Oh, the sound sent shivers down my back! I cried out when I felt the first whip touch the cheeks of my ass. I repeated the mantra again."Softly spanking me,I cry out for more pleasure!Erotic Torture"The whip was an erotic torture, softly applied to my ass. It hurt just enough to cause the sting that made me cry out for more. He walked around me and applied the leather whip to my body again, this time on my back. He was always careful never to leave any lasting damage. The marks never remained more than a couple of days. He was not an abusive Master, just very loving and firm.Oh, how I loved my Master. He was very tall, with long blonde hair and.
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