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Sam, Accountant
Category: Tax
Satisfied Customers: 14195
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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Can you use your personal allowance against a capital gain

Customer Question

Can you use your personal allowance against a capital gain ?
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer. I am afraid not, you do get an allowance (capital gains exemption allowance) to use against the capital gain - which for last tax year (2014/2105) was £11,100 and its the same for this tax year (2015/2016) and this is only avil;able for the year in question and only against a capital gainBut I am afraid if you have not utilised your personal allowances then they are lost.Let me know if you require any further assistance Thanks Sam
Expert:  Sam replied 2 years ago.
Did you require any further assistance?