Im trying to figure out whether im going to be a high rate 28% or low rate 18% tax rate payer on CGT when selling my property.
is this how I work it out for 2017/18:
Work Salary before tax deductions is £40,000
Personal Allowance 2017/18 is £11,500
£40000-11,500 = £28500
is that how I work it out, sorry im a novice at tax..
does that mean I fall into basic rate so pay 18% on CGT?
also if I have additional income for 2017/18 does that mean I add it onto the £28500 ?
thanks
is this how I work it out for 2017/18:
Work Salary before tax deductions is £40,000
Personal Allowance 2017/18 is £11,500
£40000-11,500 = £28500
is that how I work it out, sorry im a novice at tax..
does that mean I fall into basic rate so pay 18% on CGT?
also if I have additional income for 2017/18 does that mean I add it onto the £28500 ?
thanks
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