Hi there,
I’m new to investing so any help much appreciated! I’ve tried getting to the bottom of this but can’t seem to find a clear and definitive answer.
My question is on the tax-free allowance of £12,300 in the UK and on investments made outside of a tax-free wrapper like a stocks and share ISA. Let’s 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 £12,300 - will I or won’t I need to pay any more tax to the government beyond what I would already be contributing through my jobs salary?
Thanks,
Robin.