PKR

Now I am getting really confused about the Reporting Limit. I am quoting another post on this forum...... "Posted 2 months ago by HMRC Admin 32 Hi,For th. e tax year 2023 to 2024 the AEA will be £6,000 for individuals and personal representatives, and £3,000 for most trustees. For the tax year 2024 to 2025 and subsequent tax years the AEA will be permanently fixed at £3,000 for individuals and personal representatives, and £1,500 for most trustees. The measure also fixes the CGT proceeds reporting limit at £50,000." Has something changed since this was posted by HMRC 2 months ago ?

Your own website suggests that CGT Reporting Limit is 4x Annual Exempt Amount (which is 6K for 23/24) making this 24K. However I beleive this was actually fixed at 50K. Am I wrong ?

My son needs to sell some shares which he bought for £30K and have increased in value only by £2K since purchase My understanding is that for 2023/24, the Annual Allowance for CGT purposes is £6K so he should not need to pay any CGT. However, since the shares sold exceeds 4 times the Annual Allowance (my question is) does he need to report this to HMRC at all? And, if he does, since he does not fill in a Self Assessment Form, how is this best done?