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Posted Thu, 25 Jan 2024 12:05:58 GMT by
Hi, I dissolved a limited company where I held sole directorship in March 2023. There was a small amount of cash (£2K) left in the business account which my accountant at the time advised me to transfer out and then declare via 22-23 SA. Due to amount being below the CGT allowance of £12,300 do I still need to declare this somewhere on my SA form? If so, where. Thank you in advance.
Posted Mon, 29 Jan 2024 13:30:50 GMT by HMRC Admin 32
Hi,

If the disposal value of the asset was over £49200, then yes, you will need to declare this gain, even when no tax is payable.

Thank you.

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