Capital gains tax on shares

Hi, I have recently started investing in us stocks and have made the mistake of buying stocks in a general invest account rather than a stocks and shares isa. I plan to sell the shares and buy them back in an s & s isa using my allowance for this tax year 23/24. I work out i will gain 7,000 with 2,000 losses putting me under this years capital gains threshold of 6,000. I do not file a self assessment so my question is do i have to write a letter to HMRC to declare the losses or are they automatically offset against the gains for this tax year meaning i do not have to report anything as long as my overall gain is not above 6,000. What would i need to do? Thankyou

Hi,

If you gains, minus losses in the tax year, keeps you below the annual exempt allowance for that year, then there is no requirement to declare the gains or the losses.

Tax when you sell shares

Any losses that you wish to carry forward to a future tax year must either be declared in a Self Assessment Tax Return, where a tax return is required or in writing. In both situations, supporting evidence of the gains and losses should be included.

Thank you.

Thankyou for clarification.