Capital Gains Tax Reporting Threshold

Capital Gains Tax Reporting Threshold

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If an individual makes no gain on a Capital disposal is there a threshold whereby they do not have to report it to HMRC on their tax return?

I cannot find any guidance on this subject.

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By stratty
03rd Nov 2015 10:57

Limit

Sometimes you need to report to HM Revenue and Customs (HMRC) even if your gains are below the tax-free allowance. Send a tax return if:

you disposed of chargeable assets with an overall worth of more than 4 times the Capital Gains Tax allowance - this works out as £44,400 for the 2015 to 2016 tax yearyou have losses that you want to claim (if you’re not already registered for Self Assessment, you can write to HMRC instead)

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By Marion Hayes
03rd Nov 2015 11:05

Tax Return Guidance notes

If you look at the guidance notes for the Capital Gains Tax schedule online it will give you the criteria appropriate for the year

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By A McKillop
03rd Nov 2015 11:13

Many thanks Stratty and Marion for your assistance.  That clears it up.

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