SA - CGT chargeable gains - help?

[Deleted User]

Keep_pedalling wrote: »

I could be wrong but my understanding of this type of product is that it contains an element of life insurance, which is included in other income on SA, and is the only form of other income where the number of years held has any relevance.

Possibly - but if he does have a chargeable event certificate the amount of 16578 is added to his income - which could make him HR. He must therefore work out what the tax would be on the slice - 16578/12. If that keeps him basic rate he needs to make a top slicing relief claim and show his workings in the additional information box.

sjb23

Hi everyone
Sorry, I had to go out unexpectedly. It is sounding more complicated than I hoped.
My salary for this year was £24,959.42. £2990 tax deducted.

(female btw)

[Deleted User]

Sorry for the presumption. Include the whole amount in other income and explain what it is in the additional information box- don't forget to include the tax deemed paid.

If you still are not HR everything is fine -it should be!

sjb23

Thanks v much purdyoaten (and everyone else who has commented). I will do as you suggest.

Fingers crossed it'll all be ok. Will be much more organised for the next one!