How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5113
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

A six year one off investment matured last August. There will

This answer was rated:

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

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

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. and other Tax Specialists are ready to help you