Hello all,
I have a questions on calculation of 2021/22 income tax.
My current income situation for 21/22 is as follows:
income (work) 43500
rental income 7500
also a gain from sale of property in Sept 21 £7500 (all allowances and breaks taken into account) with approx £1450 in CGT paid already (assumed basic rate TP at the time of CGT submission)
My income from both work and rentals will come to just short of £51k this year, which will require CGT adjustment(top up payment). I am still in position to reduce my overall income to around £50k with AVC towards my pension, to stay within 50270. Am I right in my thinking-If I was to do that the CGT payment would not be adjusted to 28%?
Or is it that my gain from sale of property of £7500 is to be added to overall income(£51k) and will still push me into HT bracket causing CGT adjustment from paid 18% to 28% ?
Thank you all for your input
Andre
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