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Posted Sun, 22 Dec 2024 09:32:07 GMT by ldd123
Hi there, I sold shares worth £59,000 in the 2023-2024 tax year. I believe I need to click 'yes' for - Did you dispose of chargeable assets worth more than £50,000?. Please can you confirm that's correct. Thanks, 


Name removed admin .
Posted Thu, 09 Jan 2025 16:22:25 GMT by HMRC Admin 20 Response
Hi,
Yes, that is correct.
Thank you.
Posted Sat, 11 Jan 2025 23:00:58 GMT by coles70
Forgive me, I am struggling to understand what this section is asking. If I have made an overall capital gain for the tax year of say £10,000 but this is composed of a sale of shares/crypto initially for a capital gain of £55,000 but then a sale of further shares/crypto for a loss £45,000, Is the £50,000 in the question 'Did you dispose of chargeable assets worth more than £50,000?' referring to the net gain of £10,000 which does not satisfy the question, or an overall disposal of £55,000 (gain) + £45,000 (loss) ie £100,000 which does satisfy the question? Thank you very much.
Posted Fri, 24 Jan 2025 11:08:02 GMT by HMRC Admin 1 Response

Guidance on cryptoasset taxation is available online at Cryptoassets - GOV.UK (www.gov.uk), which also includes link to our more detailed guidance and link to a short video explaining how cryptoassets transactions are taxed for individuals.
Individuals holding cryptoassets as a personal investment would generally be subject to Capital Gains Tax on the gains they make when disposing of the asset. Disposal can include, for example, selling cryptoasset for money, swapping one type of cryptoasset for another, using cryptoassets to pay for goods or services, or giving cryptoassets away. Please note that cryptoasset services providers, including cryptoasset exchanges, are not required to collect Capital Gains Tax from their users on behalf of HMRC.
Individuals would generally be subject to Income Tax and National Insurance Contributions on cryptoassets which they received from other means, for example, from their employer as a form of non-cash payment for their employment.
Individuals may also be liable to pay Income Tax on income generated from cryptoasset-related activities, such as mining and staking rewards.
Please see the guidance for further details.  
The tax treatment of cryptoassets can be a complex area, and you may wish to consider obtaining professional advice.

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