CGT gain 20% tax payer pushed into 40% band and my pension

RoadToRiches

I have made a gain having sold some crypto assets back into GBP this tax year now need to work out CGT and need help

Lets say salary from PAYE is £35,000
and Tax code is 1257L
and I sell 50% my crypto assets that cost £25,000 in total for £50,000 to keep numbers simple so gain £50,000 - (£25,000 x 50%) = £37,500

Deduct CGT allowance £37,500 - £12,300  = £25,200 which is taxable

I pay 10% from £35,000 up to £50,270 (40% threshold) £15,270 @ 10%. = £1,527
and 20% on remaining £10,070 @ 20% = £2,014

Total CGT payable = £3,541

First, is the above correct way to calculate my CGT

Second, as CGT has pushed me into the 40% tax band am I able to top up pension by £10,070 and claim the 40% tax contribution of £2,014 into my employee personal pension by informing standard life about the same.

Third, should I inform HMRC by 31st December 2022 (gain this tax year)

Jeremy535897

Looks right to me. To escape paying CGT at 20% you would have to pay £10,070 x 80% = £8,056 into your pension. This extends your basic rate band by £10,070, so then you would only pay 10% CGT. You would need to complete a self assessment form and pay the tax by 31 January 2023.

[Deleted User]

It seems correct to me also. However, the op should note that none of his income or gains will be taxed at 40% and he will not obtain the tax relief that may be anticipated. While the 8056 would be grossed up to 10070, only an additional 1007 would be claimable. 

The tax saved is 10070 x (20 -10)% not 10070 x (40-20)%

I am also not sure what is meant by ‘informing Standard Life about’ the higher rate relief.