We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
The Forum is currently experiencing technical issues which the team are working to resolve. Thank you for your patience.
Capital gains tax calculation
aroominyork
Posts: 3,239 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
- 350K Banking & Borrowing
- 252.7K Reduce Debt & Boost Income
- 453.1K Spending & Discounts
- 242.9K Work, Benefits & Business
- 619.8K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards