Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 22 Aug 2024 13:55:38 GMT by A DOS
If I have a chargeable event which results in me having to pay some capital gains tax does this count towards my income when I am being assessed for the savings allowance? For example; Income from pensions and other sources £12,570, capital gain £10,000 do I still retain the £5000 starting rate for savings band? Do dividends from shares count towards my income as far as the starting rate for savings is concerned? Cheers
Posted Thu, 05 Sep 2024 11:13:01 GMT by HMRC Admin 20 Response
Hi,
A chargeable event is not a capital gain - HS320 Gains on UK life insurance policies (2024)
Thank you.
Posted Thu, 05 Sep 2024 13:56:13 GMT by A DOS
Sorry, showing my ignorance there. Let me rephrase. If I sell some shares which results in me having to pay some capital gains tax does this count towards my income when I am being assessed for the savings allowance? For example; Income from pensions and other sources £12,570, capital gain £10,000 do I still retain the £5000 starting rate for savings band? Do dividends from shares count towards my income as far as the starting rate for savings is concerned? Cheers
Posted Thu, 12 Sep 2024 13:11:31 GMT by HMRC Admin 20 Response
Hi,
No capital gains is seperate and not included for this sscenario.
Yes dividends count as other income.
Thank you.

You must be signed in to post in this forum.