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Posted Mon, 04 Nov 2024 19:48:55 GMT by AnotherDaveB
I'm unclear on what parts of my income should be included when determining how much Personal Allowance, Personal Saving Allowance, and Dividend Allowance I get. My only income is rental (8K), interest (1.5K), dividends (50K), and capital gains (104K). I have no earned income (early retirement) (I realize capital gains does not benefit from the Personal Allowance, but one of the things I am unclear on is whether capital gains should be included in the income figure used to reduce Personal Allowance by 1 GBP for each 2 GBP of income over 100K)
Posted Fri, 08 Nov 2024 12:45:16 GMT by HMRC Admin 34 Response
Hi,
Capital gains is a separate tax to income tax and should not be included when working your your net adjusted income. Please have a look at the guidance at:
Personal Allowances: adjusted net income
Thank you

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