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Readers’ forum: CGT calculations

28 January 2020
Issue: 4729 / Categories: Forum & Feedback
Impact of investment income on capital gains tax rate.

Can Taxation readers advise on the capital gains higher rate charge? I assumed that the basic rate band remaining for the lower rate (the gain related to residential property so the rate should be 18%) would be £34 500 for 2018-19 less the income charged to basic rate tax. However my client has £800 interest and £100 dividends charged at 0% and this £900 has also been deducted by my software in calculating the amount charged at 18%.

I have a suspicion that this may be correct but I would like to be sure. If readers could run the figures through their own software systems and perhaps explain to me what is going on here that would be very helpful. The relevant numbers are as follows.

  • Employment income £36 000
  • Property income £5 000
  • Interest...

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