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Posted Fri, 04 Oct 2024 15:34:58 GMT by Susan
Hi. I have sold shares in the current tax year in 7 different FTSE 100 listed companies. 4 of the transactions made a gain of £7895. The other 3 transactions made a loss of £5097. My net gain is therefore £2798 - below this years tax free allowance amount of £3000. The gross value of the 7 transactions was £26,586 - below the £50,000 self assessment reporting threshold. I am confused by comments on the HMRC website which seem to suggest I have to report Allowable losses. I have no losses to carry forward from these transactions. My questions are therefore: Do I need to report these transactions and the gain of £2798? if so do I use the self assessment return or the 'real time' capital gains service? Grateful if you could clarify please. Sue
Posted Fri, 11 Oct 2024 09:58:14 GMT by HMRC Admin 33
Hi,
Please see the link below
Capital Gains Tax: what you pay it on, rates and allowances: Work out if you need to pay

 

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