Question

Applicable tax for those income other capital gains and passive income

Answer 1

Explanation:

Just like income from a full-time job, income earned from passive activities is taxable. If you sell your interest in a passive income activity or sell a property that generates passive income, you are also responsible for taxes on any earnings you make.Capital gains are taxed differently from income, and you have a separate personal allowance for capital gains (in addition to your personal allowance for income). CGT is charged differently for business and non-business assets.