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Posted Wed, 16 Oct 2024 20:00:13 GMT by WH HO
Please advise whether I need to report CGT on listed share to HMRC. The situation is : my husband have both losses (from a single account and more than 5,000 pounds) and gains (from a joint account with me and below 50 pounds) on listed shares in the same year . So he need to report tax in order to use the remaining losses at a later date. Since his gain is only come from the joint account with me, do I need to report the only gain (from joint account with my husband, below 50 pounds). I don't have any losses and other gains. Do I still need to report gain which is within the annual exempt amount?
Posted Fri, 25 Oct 2024 15:38:31 GMT by HMRC Admin 20 Response
Hi,
As you have in year losses that are being used, this needs to be reported.
In year losses need to be used before any of the annual exempt amount.
Thank you.
Posted Tue, 29 Oct 2024 12:12:33 GMT by WH HO
To be clarified, for me, I did NOT have any loss under my name, but I only had 50 pounds gains in joint account. Do I still need to report?
Posted Tue, 05 Nov 2024 10:26:26 GMT by HMRC Admin 17 Response

Hi ,
 
If your gain is below the annual exempt allowance for capital gains, there is no requirement to declare the capital gain.


Thank you .

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