We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
CGT
Options
Ed-1
Posts: 3,956 Forumite
If you have total taxable income (including capital gains) below the personal allowance (but the capital gains are above the annual exempt amount), do you pay capital gains tax?
I.e. are you still classed as a basic rate taxpayer for paying CGT even if you are a non-taxpayer?
I.e. are you still classed as a basic rate taxpayer for paying CGT even if you are a non-taxpayer?
0
Comments
-
You are - totally separate taxes. If you have no earned income your capital gains will ‘use up’ the basic rate BAND.If you made a gain of 60000 you would pay zero on the first 12300, lower rate on the next 37700 and the higher rate on the remaining 10000.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards