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Posted Fri, 01 Sep 2023 12:28:01 GMT by SAS98KGJ Jayawardena
Hi, I just now registered for the HMRC customer forums. All my life I had been a employee and my employer paid the income tax through PAYE. After April 2023, I have started day trading to see if I can supplement my income in this tough times, though I am at a net loss at the moment. Also I have some dividend payment to report for the current tax year. My questions are : (1) How can I initiate this process? Is there a web form to fill in? How can I start reporting potentially taxable Capital Gains? Though I logged into Government Gateway and search in the HMRC website, I could not find any other than a downloadable form, but it said I had to pre-register to send it. I have never dealt with tax since it went through my employer and a complete novice as far as handling my tax goes and find this is very complicating (2) When should I report for CGT (October 2023 or April 2024)? PLEASE HELP!
Posted Sat, 02 Sep 2023 05:45:12 GMT by SAS98KGJ Jayawardena
Also, can whoever going to answer, tell me whether I can still set up self assessment account though I am working full-time and my employer send my income tax via PAYE? Thanks
Posted Wed, 06 Sep 2023 10:58:15 GMT by HMRC Admin 20 Response
Hi SAS98KGJ Jayawardena,

There are two online capital gains services.  
One for UK residential property and land (PPDCGT), which should be reported and the tax paid within 60 days and the other, real time transaction capital gains tax service (RTTCGT), which covers all other types of UK capital gains.  
If you do not already have a government gateway user ID and passord, you can do so at HMRC online services: sign in or set up an account.  
Using the goverment gateway user ID and password, you can create a RTTCGT account at Report and pay your Capital Gains Tax.  
For gains arising in the tax year 6 April 22 to 5 April 23, you have until 31 December 23 to report the gains using the realtime transaction service.  
If you do not do this, then you will be required to register for self assessment at Report and pay your Capital Gains Tax, to report the gains by 31 January 2024.  
The capital gains tax should be paid by 31 January 2024.

Thank you.
Posted Wed, 06 Sep 2023 14:14:06 GMT by HMRC Admin 10 Response
Hi
You can register for Self Assessment online here :
Register for Self Assessment

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