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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15979
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Have a gain of £22864 after allowed deductions , I earn £15600

Customer Question

have a gain of £22864 after allowed deductions , I earn £15600 per year from my pension , how much tax will I pay on my gain
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi. Is the figure of £22,864 a capital gain from the sale of assets suich as shares or property or from the surrender of a single premium investment bond, ie a chargeable event gain? If it is a capital gain, have you deducetd the annual capital gains exemption of £11,100 from the gain?