How do I know what tax allowances apply?

Several tax allowances might apply to your UOWN investments:

Capital Gains Tax allowance: £3,000 per year (2024/25) - you only pay CGT on gains above this.

Dividend allowance: £500 per year (2024/25) if any distributions are classified as dividends.

Personal allowance: £12,570 (2024/25) - but this typically applies to income, not investment gains.

Losses: You can offset capital losses against gains, potentially reducing your tax bill.

Carry forward: Unused losses can be carried forward to future tax years.

Check current rates: Tax allowances change regularly. Check HMRC's website or consult an accountant for current rates.

Personal circumstances matter: Your employment status, other income, and total gains all affect which allowances apply.