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Posted Sat, 17 Feb 2024 17:09:35 GMT by
Hi, I'm retired and my incomes are comes from bank saving interest and dividend and gain from listed shares . For FY23-24, I know we've personal allowance of £12,570, saving interest allowance of £5,000, dividend allowance of £1,000 and allowance on capital gain of £6,000. If I've total income of £24,000 (Capital gain-£12,000, Bank interest-£8,000 and Dividend-£4,000), is it mean that I've no need to pay tax ? Thanks.
Posted Tue, 20 Feb 2024 16:18:49 GMT by HMRC Admin 8
Hi,
Capital gains tax is a separate tax to income tax and has its own allowance.  
Your income tax liability is based on your income from interest and dividends and must be calculated first.  
If you have no tax to pay after your personal allowance of £12570 is applied, you have the full range of the lower rate of capital gain to apply against your capital gain, after your annual exempt allowance (£6000 for 23/34) is deducted.  
The lower rate for capital gains is 10% and the higher rate at 20%.  
Please have a look at the guidance at:
Report and pay your Capital Gains Tax
Thank you.

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