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Posted Tue, 09 Jan 2024 19:22:49 GMT by JustCheck
Do you need to report anything to HMRC for shares sold for more than £49,200, where the net gain is zero AND you are NOT required to register for self assessment? Scenario: a) If the only assets disposed were shares with a value greater than £49,200. AND b) The Net Gain is Zero. AND b) You are NOT already registered for Self Assessment and have no requirement to. [ALL your answers to the HMRC questions on "Check if you need to send a Self Assessment tax return" determine that you DO NOT need to submit a self assessment. For CGT, Self Assessment question 8 "Do you need to pay any Capital Gains Tax?" - The answer is NO because the NET Gain is Zero.] Having used the HMRC website it doesn’t appear that reporting is required via Self Assessment, both "Check if you need to send a Self Assessment tax return" and “CGT: Work Out if you need to Pay [https://www.gov.uk/capital-gains-tax/work-out-need-to-pay]” say “No”. Having also searched the CGT Manual (in particular: CG20220 - Capital Gains manual: individuals: administration: Returns of chargeable gains” – this does not clarify the situation either. Thank you
Posted Tue, 16 Jan 2024 11:20:36 GMT by HMRC Admin 10 Response
Hi
If the assets sold were more than £49200, a tax return is still required.

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