Tax question - selling a record collection.

nottsmagpie

Thanks a lot to all posters and ceeforcat and Mikeyorks in particular - certainly put my mind at ease. Looks like it's time to start typing all of these into the computer. Probably take a few tax years to enter them all on the PC!

ceeforcat

The point is though that if you sell amounts with values less than the CGT exemption (£10600 this year) you will not even have to declare them.

Mikeyorks

ceeforcat wrote: »

The point is though that if you sell amounts with values less than the CGT exemption (£10600 this year) you will not even have to declare them.

Exactly so. Therefore I wouldn't have thought it difficult to stay away from CGT altogether.

As the OP submits SA Returns then any disposals which exceed 4 x the annual allowance does need showing on CGT pages even if no tax is due. But that isn't going to be the case one assumes.