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Posted Mon, 18 Jul 2022 13:27:04 GMT by guysjunk
Hi, earlier this year I registered for self-assessment as I had disposed of chargeable assets in excess of £50k last year. This was the sole reason for my registration, and I am not required to self-assess for any other reason. I have no CGT to pay on those disposals as I am under the £12k threshold. I believed that I needed to register because my disposals were over £50k, however it has since come to my attention (on HMRC website) that there is no need to declare disposals if not previously registered, so I should not have registered. In light of this, can I unregister myself and if yes how?
Posted Tue, 19 Jul 2022 12:48:18 GMT by HMRC Admin 17

You still need to file the tax return as you meet the criteria -

you sold or disposed of chargeable assets which were worth more than £49,200.

Thank you.

Posted Tue, 19 Jul 2022 13:42:12 GMT by guysjunk
Thanks, I'm referring specifically to the following guidance on HMRC's website: "You still need to report your gains in your tax return if both of the following apply: -the total amount you sold the assets for was more than 4 times your allowance -you’re registered for Self Assessment" The wording is specifically "both", not "either", is this guidance incorrect?
Posted Wed, 20 Jul 2022 15:30:34 GMT by HMRC Admin 10
Per the following guidance it is either :
Capital Gains Tax summary notes
Posted Fri, 22 Jul 2022 08:57:56 GMT by guysjunk
Hi, as per the link that you shared, this advice is to "help you fill in the Capital Gains Tax summary pages of your tax return", so it assumes that one is therefore already registered. The guidance that I shared previously does not make that assumption, so must be more applicable to my situation. It appears therefore that I registered for self-assessment mistakenly, so then my question remains: is there a way to un-register myself? Many thanks
Posted Tue, 26 Jul 2022 10:04:07 GMT by HMRC Admin 19

You can see guidance here:

You do not need to send a Self Assessment tax return

Thank you.

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