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Where Taxpayers and Advisers Meet

CGT rate - easy? query!

JohnEv
Posts:2
Joined:Tue Aug 07, 2018 7:24 pm
CGT rate - easy? query!

Postby JohnEv » Sun Aug 19, 2018 8:50 am

Hi - I understand that the rate of CGT chargeable depends on the gain added to your taxable income - so 10/20 or 18/28.

If you only have say £3,000 of UK taxable income and after using your CGT allowance you have a gain of £2,000, does that mean you pay nil CGT because you are still within your personal allowance for income tax?

Or do you always have to pay 10/18 even if you have no UK taxable income? I have done a lot of Googling but can't seem to find anything that states this definitively.

Very grateful for any help. Thanks.

John

RMC
Posts:435
Joined:Wed Aug 06, 2008 3:35 pm

Re: CGT rate - easy? query!

Postby RMC » Sun Aug 19, 2018 10:17 am

No.

Peter D
Posts:10668
Joined:Wed Aug 06, 2008 3:37 pm

Re: CGT rate - easy? query!

Postby Peter D » Sun Aug 19, 2018 10:21 am

IT and CGT are not interchangeable. Regards Peter


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