The cascading effects of these adjustments to the CGT annual exemption amount will be diverse; especially for investors in the higher tax bracket. This is because, a higher rate taxpayer who previously utilised the entire £12,300 annual exemption could see themselves paying u...
•CGTratepayabledependsontaxpayer’stotaltaxableincome•Taxedastopslice•Iftaxablegainsfallintobasicrateband;CGTwillbechargedat18%•Ifanygainsfallintothehigherrateband:theywillbetaxedat28%•AnyextensionstoBRforincometaxwillalsobetakenintoaccountforCGT•Unusedpersonalallowancescannotbeusedtoreducetaxable...
•CGTratepayabledependsontaxpayer’stotaltaxableincome•Taxedastopslice•Iftaxablegainsfallintobasicrateband;CGTwillbechargedat18%•Ifanygainsfallintothehigherrateband:theywillbetaxedat28%•AnyextensionstoBRforincometaxwillalsobetakenintoaccountforCGT•Unusedpersonalallowancescannotbeusedtoreducetaxable...