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Posted Sun, 07 Jan 2024 12:44:38 GMT by Chris Crocker
My gross income puts me in the higher rate tax bracket. However I donate sufficient Gift Aid to remove me from any tax at the 40% rate, i.e. my net income after Gift Aid falls within the 20% tax threshold. Does this also make me liable for the lower CGT rate, or am I still classified as a higher rate taxpayer and therefore liable to the higher rate?
Posted Fri, 12 Jan 2024 11:08:40 GMT by HMRC Admin 20 Response
Hi Chris Crocker,
This depends on the level of gain received and how much the gift aid brings you back into the lower rate band.
You may find that any gain may straddle both basic and higher - Capital Gains Tax: detailed information
Thank you.

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