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Posted Tue, 10 Sep 2024 13:55:08 GMT by A DOS
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 Tue, 17 Sep 2024 09:42:21 GMT by HMRC Admin 18 Response
Hi,

No the shares sold will be taxed as capital gains only. The dividends prior to sale of the shares count as other income when working out your tax rates.

Thank you.

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