Chargeable Gains and Capital Gains Tax

Liam_Jenkins_99

Sonia and Steve are two taxpayers who made a capital gain in 2016/17 of £35,000 (non-residential property) before deducting their annual exempt amount.

They don't joint own the non-residential property.

Take the taxable income into the calculations.

Calculate the amount of capital gains tax payable (in whole pounds) by each individual.

1) Sonia with a Taxable Income of £18,500.

a) What is her gains chargeable at 10%?
b) What is her gains chargeable at 20%?
c) What is her total CGT payable?

2) Steve with a Taxable Income of £41,250.

a) What is his gains chargeable at 10%?
b) What is his gains chargeable at 20%?
c) What is his total CGT payable?