HMRC's guide to completing a tax return indicates to report a capital gain only in certain circumstances (e.g. proceeds and gain above given limits).
Where reporting is required, you must indicate where a valuation has been used.
So, what if your valuation is below the relevant limits (e.g. £10k for a minority shareholding)? Does that mean you need not report, in which case HMRC won't be given a chance to query the value used (what if they would think it's £15k)?
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Thank you. Yes I see the point of the question. What I would do is declare the transaction on the return regardless of whether the assumed sale proceeds were above or below £10,000.
Don't you have to declare the value on the Land Registry transfer document . If I'm right what price will you insert??