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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4786
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Is the CGT rate calculated on your personal rate of tax or

Resolved Question:

Is the CGT rate calculated on your personal rate of tax or is it always 40% flat rate?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

CGT rates are 18%, 28% or a combination of both depending on your total income in the tax year in which capital gain arises.

More information on this can be found here

http://www.hmrc.gov.uk/rates/cgt.htm#2

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 2 years ago.

Thanks. I may have a large gain this coming year, so if I reduce my drawdown pension I may be able to reduce the CGT rate?

Expert:  taxadvisor.uk replied 2 years ago.
Thanks for your reply.

If you are considering drawing down pension post budget 2014 changes then yes you would have to make adjustments.

I hope this is helpful.
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4786
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
taxadvisor.uk and 3 other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes

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