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Posted Fri, 22 Nov 2024 10:10:35 GMT by Roger Abel
I'm stuck on the CGT pages of self assessment. I have (I think) a simple case. I sold some shares (1 transaction) and the proceeds exceeded £50k, but the gain was less than the 2023/24 allowance of £6k, so I don't believe there is any CGT to pay. Do I report this on the form as a loss? It's not clear whether I should subtract the allowance as well as the fees/sale costs, and report balance as a loss (there is no reference to the allowance on the online form, it only refers to reliefs and exemptions which don't apply to me) ? I will attach a copy of the confirmation of sale (which only shows the sale proceeds and costs) and a separate document showing how I've worked out the gain based on the original share price paid and the sale price.
Posted Wed, 27 Nov 2024 13:16:06 GMT by HMRC Admin 19 Response
Hi,
As you are completing the tax return for another reason and the disposal value of your assets were over £50,000, you have to declare the disposal in your tax return, even if there is no Capital Gains Tax payable.  
You declare the disposal value, the allowable costs, the gain and any losses. Self Assessment will apply the annual exempt allowance for you and calculate if there is tax to pay. You will see this at the bottom of the calculation.
Thank you.

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