Weewillamena

Thank you. No there is no other reason to register for self assessment. I completed the questionnaire online and there is no requirement for me to register and I have never been registered for self assessment in previous years either.

Feed back .

Hi, I have an overall capital gains loss of approximately £6k. I do not want to register the loss as I have no intention of investing again as this was a loss of inheritance and I have no knowledge/experience of investments. I have never been registered for self assessment but the disposal proceeds were over £50k. Am I correct in saying I don’t have to report the losses as the website states that capital gains/losses must be reported only where BOTH the proceeds are over £50k AND if you are already registered for self assessment? “ 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 £50,000 • you’re registered for Self Assessment These rules apply from the 2023 to 2024 tax year onwards.”