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Posted Sun, 11 Feb 2024 23:06:27 GMT by
Hi, I'm French but I live in the UK and I'm a UK resident for tax purposes. I used to own a few shares of my bank in France but I had to sell them in 2020 when Covid happened as I needed liquidity and then received 11000 euros, which, at the time, was equivalent to 9661,84 pounds. In that case, are we supposed to declare this amount to the UK since I believe - when I received this money, in 2020 - that I was below the annual exempt amount at the time (£12300) for the capital gains tax... Is that right?
Posted Thu, 15 Feb 2024 14:31:30 GMT by HMRC Admin 5 Response
Hi

Technically, yes.  If you were in receipt of a foreign capital gain from the share disposal, this should have been reported on a self assessment tax return for the tax year in which the disposal arises.  
It should be declared in pounds sterling, even if the annual exempt allowance of £12300 meant that no tax was payable.  If you disposed of the shares at a loss, then you did not need to declare in a tax return.

Thank you
Posted Thu, 15 Feb 2024 22:43:59 GMT by
okay... I'm worried but also, sorry, may I ask you what does this mean, here, on that page : https://www.gov.uk/capital-gains-tax/work-out-need-to-pay#:~:text=If%20your%20total%20gains%20are,than%204%20times%20your%20allowance ....the part where it says : "If your total gains are less than the tax-free allowance You do not have to pay tax if your total taxable gains are under your Capital Gains Tax allowance. You still need to report your gains in your tax return if both of the following apply: the total amount you sold the assets for was more than 4 times your allowance you’re registered for Self Assessment" I'm registered with self-assessment in the UK, that's correct...but I don't think I sold the assets "for more than 4 times than my allowance".../ actually, I don't understand what this sentence means / and what if I didn't sell the assets for more than 4 times, in that case, it's okay if I didn't report it? as it says above that "you still need to report your gains in your tax return if BOTH of the following apply".../ only one could apply Really sorry, it's jsut that I thought I asked this forum at the time and I think they said it was okay (but I might be wrong)..., of course, I'm worried about that mistake...many thanks
Posted Sat, 17 Feb 2024 23:20:06 GMT by
sorry and also I had read that as well (I know it's not from HMRC) but it gets me a little bit confused 

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Posted Tue, 20 Feb 2024 12:22:04 GMT by HMRC Admin 19 Response
Hi,

You can find further guidance here:

Capital Gains Tax: what you pay it on, rates and allowances

Thank you.

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