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How much CGT does a non-taxpayer pay?
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Adb1986
Posts: 4 Newbie

in Cutting tax
I am a non-tax payer and am looking at selling some shares that I own. Will I have to pay tax on profit above the £3,000 CGT threshold or can I combine my £12,750 tax allowance and the £3,000 CGT allowance ?
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Comments
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It isn't possible to apply income tax allowances against capital gains tax liabilities, they're two separate regimes (albeit the rate of CGT is influenced by how much income you have).1
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Adb1986 said:I am a non-tax payer and am looking at selling some shares that I own. Will I have to pay tax on profit above the £3,000 CGT threshold or can I combine my £12,750 tax allowance and the £3,000 CGT allowance ?
You will pay 18% on any gain over £3000.0 -
You spread can the sales into separate years to take advantage of the annual allowance. Can you make use of your partner's allowance?0
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