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Posted Fri, 31 May 2024 10:55:02 GMT by eddielee
1)I bought 1 Kg Gold Bar Cast £46,403.00 by The Royal Mint in 11 November 2021. I sold back 1 Kg Gold Bar Cast £50,414.98 to The Royal Mint in 12 February 2024. I earned £4011.98. 2)I bought 500g Gold Bar Cast £24,752.60 by The Royal Mint in 23 March 2022. I sold back 500g Gold Bar Cast £24,027.55 to The Royal Mint in 2 August 2023. I lost £725.05. I understanding is these capital gains aren't over £6000 in 2023/2024 Tax year. I don't need to send tax return to HMRC and I don't need to do anything. Is it correct? Thank you so much.
Posted Tue, 04 Jun 2024 09:29:56 GMT by eddielee
Could you tell me the answer? Thank you verymuch.
Posted Wed, 05 Jun 2024 11:04:03 GMT by HMRC Admin 20 Response
Hi 
As your gains, minus losses are below the annual exempt allowance for the tax year in which they were disposed of, there is no requirement for your to report them.  
If you want to claim losses, to set against a future gain, you will need to write to HMRC, within 4 years of the end of the tax year that the losses arise, providing supporting evidence.
Thank you.
Posted Thu, 06 Jun 2024 11:19:03 GMT by HMRC Admin 25 Response
Hi eddielee,
Sorry, we cannot comment on scenarios.
If you want an answer to this question, will need to seek professional advice, such as a financial adviser or accountant.
Thank you. 
Posted Thu, 06 Jun 2024 12:36:17 GMT by eddielee
Thank you for your reply and advice. Thank you so much.

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