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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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A six year one off investment matured last August. There will

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A six year one off investment matured last August. There will not be any others. I want to pay the tax one off, it is in joint names my wife who is taxed separately. How should I proceed. The figures are total payment including management charge of £4000,--£80000. Return£110012, Each of our incomes are below £37887. Can you give me a rough estimate of what the tax will be which I intend to pay by cheque
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.

Hello and welcome to the site. Thank you for your question.

If your gain on the investment is £30,012, gain per individual will be £15,006.
Your gains allowance against it is £11,100 and you would pay CGT on £3,906 at 18%.
Total CGT payable (703.08 x 2 ) £1,406.16

Each of you will have to report your share of the gain by filing a tax return and complete supplementary pages SA108 - Capital Gains summary

More information on this can be found here

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/420007/sa108-notes-2015.pdf

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.

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