Help re capital gains tax AND savings interest

I have a share scheme (SAYE) which matured today and I have excercised the option to move all of this to my stocks and shares ISA. I am maxing out my £20,000 and plan to take that out once it's done. Regarding the rest, the price at the moment works out £6,838 gains, so I will be due to pay 10% of what is over £6,000. So for this i'm looking around £84 capital gains tax. The second thing, I have £50,000 which is in a 12 month saver, which matures next week at 4.07%. So the £50,000 will then be worth £52,035. My understanding (but could be wrong) is that £1,000 I wouldn't get taxed on, and the other £1,035 I would. If it is 20% then I was expecting a charge of around £207 for this. The two questions I've got, are do the two things above affect each other in any way? And how do I go about reporting this, with HMRC? I am more than happy paying any charges, but it is so complicated. I am not a hugely wealthy person, I only earn around £26/27k a year, but I need help on what the right thing to do is here. Also, once this is dealt with, i'm planning on moving £85,000 in to another 12 month saver at around 5.5% interest. That works out that the 85k would be worth 89,675. Would I pay take on just £3,675 (assuming my first 1k is tax free) of that next year, and would it be 20% of that? Hope somebody can help.

Hi,

We cannot commment on your calculations or provide financial advice. Income tax liability is calculated before capital gains liability is calculated. The more of the basic rate band that the income uses, the less of the lower rate of capital gains is available, increasing the amount taxed at the higher rate of capital gains. You will need to add up all of your income, from employments, self employments, interest, dividends and so on, to work out how much is taxed at 20%. Any of the basic rate band unused, can be applies as the lower rate of capital gains.

You can report and pay the capital gains online using the link below or by completing a Self Assessment Tax Return.

Report and pay your Capital Gains Tax

Thank you.