Hi there,
Iām new to investing so any help much appreciated! Iāve tried getting to the bottom of this but canāt seem to find a clear and definitive answer.
My question is on the tax-free allowance of Ā£12,300 in the UK and on investments made outside of a tax-free wrapper like a stocks and share ISA. Letās imagine I have a job that pays a 80k yearly salary on which tax is taken by the government based upon those earnings. If, separately I were to make profit on investments and then sell them to the amount less than Ā£12,300 - will I or wonāt I need to pay any more tax to the government beyond what I would already be contributing through my jobs salary?
Thanks,
Robin.