capital gains tax in section 2

System
System Posts: 100,534 🤖 Admin 🤖
hi

does anyone remember what bands they used for the income tax liabilty and then for the capital gains tax band.

I think Ive done it totally wrong.

i calculated my income tax and it only covered low rate of 10%

so i then used the 10% in my capital gains tax and then 20% and 40%

cant believe how much ive messed up!

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:capital gains tax in section 2

    Schedule A income used up the £2020 charged @ 10%. This is what i got anyway. The capital gains were taxed at 20% then 40% for the remainder. Don't know if this is correct though!!!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:capital gains tax in section 2

    I had approx 22K cant remember exact figure middle band, and the rest at 40%
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