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Where Taxpayers and Advisers Meet

CGT question - how much disposal before 20% tax

danny1977
Posts:2
Joined:Sat Mar 20, 2021 11:02 am
CGT question - how much disposal before 20% tax

Postby danny1977 » Sat Mar 20, 2021 11:57 am

I'm unemployed with no other sources of income, but wish to sell some shares.
I'm keen to avoid paying 20% cgt.
I'm a little confused by the CGT allowance and personal allowance and whether I can combine them?
I think I can dispose around £37,000 and still be in the 10% bracket. Is that correct.
I find all of this very confusing.
Any help would be much appreciated!
Thank you in advance

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: CGT question - how much disposal before 20% tax

Postby maths » Sat Mar 20, 2021 4:19 pm

If you aggregate your capital gains (and assuming no income) and deduct an annual exemption of £12,300 (tax year 21/22) if the resultant figure falls below £37,700 (for tax year 21/22) the rate of CGTV would be 10%; elements above £37,700 taxed at 20%.

danny1977
Posts:2
Joined:Sat Mar 20, 2021 11:02 am

Re: CGT question - how much disposal before 20% tax

Postby danny1977 » Mon Mar 22, 2021 5:26 pm

Many thanks!


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