Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 25 Nov 2023 08:11:28 GMT by Jim Hall
My wife and I sold a property last year and declared and paid the capital gains tax. My wife does not normally need to complete an income tax return. Does she need to complete a tax return just to redeclare the capital gain?
Posted Tue, 28 Nov 2023 12:37:13 GMT by HMRC Admin 8
Hi,
There are two criteria that must be met for the gain to be reported on a tax return:
1- a tax return is required for any other reason and
2 - the disposal value is over £49200 for 22/23 and £50000 for 23/24.  
If only one of the criteria is met or none are met, then the gain does not need to be reported in a tax return.
Thank you.
Posted Tue, 28 Nov 2023 13:18:42 GMT by Jim Hall
Thank you.

You must be signed in to post in this forum.