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Posted Wed, 03 Apr 2024 13:19:55 GMT by Sue Barr
Do I still have to report capital gains for 2nd property in the UK if it comes below my personal allowance?
Posted Wed, 10 Apr 2024 10:50:47 GMT by HMRC Admin 5 Response
Hi

If you are UK resident you dont need to report the gain if no tax is due. Please note, you cannot use your personal allowance against this - there is an annual exempt amount of £6000 for 23/24 and this reduces to £3000 for 24/25. if your gain is above this then you need to report it.

Thank you

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