Capital gains tax calculation

aroominyork · 20 July at 5:54AM

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?

Doctor_Who · 20 July at 6:09AM

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?

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:

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

Capital gains tax calculation

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