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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15950
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am no longer working and I am not old enough to get a

Resolved Question:

Hi. I am no longer working and I am not old enough to get a pension. I have dual nationality and can get money from the selling of properties abroad. How much am I allowed to bring in the UK before paying tax? I am a UK resident
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

If you make capital gains from selling investment property or other assets such as shares, you can make gains in any one tax year tax free of £11,100. Depending on your domicile, you may not have to pay tax on income and gains you don't bring into the UK.

There are two rates of CGT, 18% and 28%. The rate or combination of rates that you will pay will be dependent on the level of your income in the tax year that the gains are made. Take a look here for information on how to work out the rate of CGT or combination thereof you will pay.

I hope this helps but let me know if you have any further questions.
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