Trading 212 Invest

Matt00338

Hi, 
When using trading 212 invest, is the account tax exempt up to £12,000?
Thanks

masonic

It's not tax exempt (unless you have an ISA in which case it is tax exempt without a limit). Perhaps you are asking if your capital gains fall within your annual capital gains tax allowance? If so, the answer is yes.

ColdIron

The Annual Exempt Amount on capital gains is £12,300 2020/21 if investing outside an ISA or pension

https://www.gov.uk/capital-gains-tax/allowances

Bowsa

ColdIron said:

The Annual Exempt Amount on capital gains is £12,300 2020/21 if investing outside an ISA or pension

https://www.gov.uk/capital-gains-tax/allowances

sorry novice here and trading 212 looks good. 

Is the £12,300 different from any taxable amount from a salary.

I.E.
if I made 20,000 p/a salaray I have 12,500 before I pay tax
then £10,000 in investments would I still need to pay CGT on the 10k?

or would I only pay 20% CGT on any amount about the 12,300 ?

Also I assum you don't pay any CGT until it leaves your wallet in Trading 212?

kuratowski

Question above has been answered here https://forums.moneysavingexpert.com/discussion/6132261/trading-212