Capital Gains Tax when on an ESA
Hello everyone,
Hope everyone is doing well and able to deal with life challenges :-).
Please if someone can guide me on a particular query:
I am on new style ESA that's taxable. In addition, I have a £700 per month job (£8400 per year) that's well within the £183/week wages to maintain eligibility for new style ESA. Even after combining these two taxable incomes, I am a basic rate tax payer.
My Husband gifted me shares that I am looking to sell, so my question is: Can Capital Gains of say £30k count towards ESA eligibility that puts a limit of c £9500 as net income to be eligible for the new style ESA
Thank you so much in advance.
Comments
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So just to update: I spoke to the Govt ESA helpline. And it is all good. Capital Gains don't affect the ESA eligibility the officer confirmed.
I also got this info from a charity, which validated the same:
When it comes to new style ESA there are only a couple of things that will affect it – if you have a certain type of pension over £85 a week and haven’t paid at least 50% of the premiums or if you are a local councillor and have an allowance above £183.50 (same as the permitted work levels) Quite aside from any tax implications which I am not qualified to advise on, gifts or assets, savings, second properties etc are all ignored.
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That's an interesting bit of knowledge thank you @BestWishesEveryone Certainly wasn't something I knew previously so I really appreciate you coming back and letting us know!
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