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Posted Fri, 01 Apr 2022 17:51:47 GMT by ScoMac
Hiya, Just a quick example. If I make a £15000 profit on an asset early in the year. But then later in the year make a £5000 loss on a different asset. Do I still need to register for Self-Assessment and let HMRC know even though I am now under the CGT Allowance? Thanks for any help!
Posted Wed, 06 Apr 2022 08:05:48 GMT by HMRC Admin 17

Hi,
 
On the assumption that the customer is UK resident and the earlier asset isn't UK residential property ,
then they'll only need to report if they have capital gains tax to pay Capital Gains Tax:

what you pay it on, rates and allowances: Report and pay Capital Gains Tax - GOV.UK (www.gov.uk) .

Thank you.
Posted Wed, 06 Apr 2022 08:58:17 GMT by williamcfw chan
If I have a capital loss of 10000gbp and would like to carry the loss for CGT deduction for next tax year, do I do this by filing a self-assessment?
Posted Thu, 07 Apr 2022 13:40:34 GMT by HMRC Admin 10
Hi williamcfw chan

Please see the guidance to follow regarding Capital Losses :

www.gov.uk/capital-gains-tax/losses

Thankyou.

Regards.

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