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CGT and Letting Relief
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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 differenceThanks
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