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Posted Mon, 20 Nov 2023 10:13:52 GMT by Brent Sandiford
Hi, I'm new to CGT reporting and wish to ask the following: Let's say for example in Tax Year 22-23 I have the following Pension of £6300 Savings interest of £2600 Dividend of £1700 CGT profit of £6500 How would this be broken down say for income tax purposes and annual allowances for savings, dividends and CGT. Eg is it all totalled up and offset by my personal tax allowance Or Are the savings, dividend and CGT allowances deducted 1st and then what's left totalled and offset by my personal tax allowance Or Something different..
Posted Tue, 21 Nov 2023 17:05:52 GMT by HMRC Admin 10
Your personal allowances are set against your pension,interest and dividends after the dividend allowance and savings allowance are used up.
Any excess is then lost if not used as they cannot be set against your capital gains.
Your capital gain would then be taxable on the profit after the deduction of the cgt allowance.
Based on your figures your gain would not be liable to tax.

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