In the case of Henrietta, the taxable income in 2014 – 2015 tax years was £12,000 so that the CGT tax rate for Henrietta 18% and the chargeable gain is £119,730 The tax rate is based on the taxable income, the taxable income 2014 -2015 give 18% for capital gains tax but the total taxable capital gains of Henrietta is £108,730 so that Henrietta needs to get the basic rate bank minus the taxable income in order to determine the accurate amount be taxed @18%
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