We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Capital gains tax calculation
aroominyork
Posts: 3,790 Forumite
I have a note that capital gains above the £6000 personal allowance are added to other income to determine the rate at which they are taxed. Can someone please confirm this is correct, or are all gains added even though not all gains are taxed?
0
Comments
-
The example on the Gov.uk website says to deduct the CGT allowance from the gain and add that to your taxable income to work out your tax band:aroominyork said:I have a note that capital gains above the £6000 personal allowance are added to other income to determine the rate at which they are taxed. Can someone please confirm this is correct, or are all gains added even though not all gains are taxed?
https://www.gov.uk/capital-gains-tax/rates
'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.7K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.3K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards