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Capital Gains Limit

vienly · 2014-07-16 14:31:30

I know the CGT limit is £11000 for this financial year, if I decide to sell some shares and for whatever the reason the gain is £11200 (example) will I need to declare this to HMRC? The firm answer is probably a yes but as it's a £200 over the limit, but is there any leeway before the HMRC slaps you with the sh*t stick?…

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Biggles Posts: 8,209 Forumite

17 July 2014 at 9:29AM

vienly wrote: »

I guess some people like you said, will avoid reporting if the figures are too low

If, in any tax year, your net gain is not more than £11k and your total shares disposed of don't come to more than four times that, ie £44k, you don't need to make any return at all, in either year.

Obviously, you need to keep your own records to ensure you are within those limits.

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Capital Gains Limit

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