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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Am I correct in thinking that any profit I make from selling

Resolved Question:

Am I correct in thinking that any profit I make from selling shares this year up to £11000 is not connected to the tax free amount that I am allowed from my income from working. Thanking you in advance.
Submitted: 3 years ago.
Category: Tax
Expert: replied 3 years ago.
Hello and welcome to the site. Thank you for your question.

Gains allowance is separate from personal allowance.

You are entitled to persoanl allowance of £10,000 plus gains allowance of £11,000 (against capital gains)

I hope this is helpful and answers your question.

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Expert: replied 3 years ago.

I thank you for accepting my answer.

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Best wishes