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Posted Sat, 23 Sep 2023 17:39:23 GMT by QQ
Dear HMRC admin, I am filing a Self Assessment tax return online, I would like to seek your advice when entering under the Section of Capital Gains. Since in "Tailor Your Return" section, I answered "Yes" to "If you disposed of any chargeable assets, or had any chargeable gains, or you wish to claim..., do you need to complete the Capital Gains section?" However, after answering all the following questions with "No" in that section then click "Save and Continue" go to next page. It told me that "Not required to complete capital gains section". 1) Did you dispose of chargeable assets worth more than £49,200 ? (No) 2) Are losses deducted? (No) 3) Are your taxable gains more than £12,300 ? (No) 4) Did you want to claim an allowable capital loss or make any other capital gains claim or election for the year? (No) Question 1: I do not fulfil the criteria of questions No. 1 & 3. However, I would like to report my capital gain even it if was only a small amount of £250 chargeable gains by using online Self Assessment, what should I do? It seems that I could not enter any figure to report those amount. Please advise, Question 2: Or I should delete the section of Capital Gain and then by answering "No" in "Tailor Your Return" ? Awaiting your reply with thanks.
Posted Mon, 02 Oct 2023 14:07:51 GMT by HMRC Admin 19 Response
Hi,

If you have gains over the annual exempt amount, you will need to change your answers on the return.

If your gain is below £12300 there is no need to report it and you can delete the capital gains section on your return.

Thank you.

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