Tax on savings after property ssle advice

caiti

I retired early on a work pension of under £9k Pa. I have now sold my holiday home as cannot afford double council tax on it.  When calculating capital gains I notice my 'profit' gets counted as income for this year.  Does this mean I will not be entitled to the £5k savings starter tax free on interest this year?
does it also mean I could pay the higher income tax rate even though I have paid capital gains tax?
or that I will only get £500 interest tax free?
I could put some of my savings into a 1 year bond and not get the interest until next year.  Any advice gratefully received as I plan my ongoing retirement.

Hoenir

There's no connection between the taxation of the holiday let and the savings allowance at all. 

sheramber

caiti said:

I retired early on a work pension of under £9k Pa. I have now sold my holiday home as cannot afford double council tax on it.  When calculating capital gains I notice my 'profit' gets counted as income for this year.  Does this mean I will not be entitled to the £5k savings starter tax free on interest this year?
does it also mean I could pay the higher income tax rate even though I have paid capital gains tax?
or that I will only get £500 interest tax free?
I could put some of my savings into a 1 year bond and not get the interest until next year.  Any advice gratefully received as I plan my ongoing retirement.

on it.  When calculating capital gains I notice my 'profit' gets counted as income for this year.

What do you mean by ‘my profit’.?

Is it your profit from the holiday let income ?

or

Do you mean your CApital Gain?