Tag Archives: 18% Capital Gains Tax

Capital Gains Tax: Why Being a Basic Rate Income Taxpayer Doesn’t Always Mean Paying 18% CGT

You might pay 20% Income Tax, but that doesn’t necessarily mean you’ll pay Capital Gains Tax at 18%. We’ve had two conversations with clients this week which highlighted a very common misunderstanding about Capital Gains Tax (CGT). Both clients were basic rate taxpayers for Income Tax and both assumed that, because they paid Income Tax