ftax

Capital Gains and Income Tax Calculator

  • Select the tax year
  • What is your income this tax year?
  • What is your capital gain this tax year?
  • Your income tax is
  • Your capital gains tax is
  • Your total tax payable is
How's this calculated?

Up to an including  tax year 2007 you apply the tax rates shown in the table below to your income(minus personal allowance)to calculate your income tax. You then calculate capital gains tax on your chargeable gain (capital gain minus exemption) using up any portions of the tax bands not used by your income (the basic tax rate for income is 22% and 20% for capital gains). Note that for tax year 2008 onwards there will be a flat capital gains tax rate of 18% and a 20% (not 22%) income tax rate for exempt income of 0 to 36,000. There is no 10% income tax rate for tax year 2008. 

Tax Year Personal Income Allowance Capital Gain Exemption 10% tax rate 20(22)% tax rate 40% tax rate
  01-02 4,535 7,500 0-1,880 1,881-29,400   29,400 +
  02-03 4,615 7,700 0-1,920 1,921-29,900   29,900 +
  03-04 4,615 7,900 0-1,960 1,961-30,500   30,500 +
  04-05 4,745 8,200 0-2,020 2,021-31,400   31,400 +
  05-06 4,895 8,500 0-2,090 2,091-32,400   32,400 +
  06-07 5,035 8,800 0-2,150 2,151-33,300   33,300 +
  07-08 5,225 9,200 0-2,230 2,231-34,600   34,600 +
  08-09 5,435 9,600 0 0 - 36,000   36,000 +
Note - the values in this table apply to single persons aged under 65. For a list of rates if you are married and/or aged over 65 see here and here
Last Updated Sept 2007