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CGT and Letting Relief

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  • Dr_Dr
    Dr_Dr Posts: 33 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Well, it is still going on. Using the online calculator is not always helpful and sometimes gives unexpected results.
    When calculating 2019-20 Income tax, your basic rate tax allowance is increased by any amounts paid into pensions and charitable donations.
    If you also pay CGT on a property sale, you pay at 18% for any unused portion of your income tax basic allowance, and the rest at 28%. For the calculation (of the 18% part) does the Revenue take into account  the increased allowance (pensions + charitable payments) or does it use the normal 37,500 basic allowance? It can make a big difference
    Thanks

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