Cgt question

danm

I calculated a number of bed and isa trades early in 2018/19 tax year to keep the total value of the transactions at just below the ISA allowance (~£15,000) and the realised gain from these below the CGT threshold.

Some RSU from employment also vested which I paid income tax on. The shares sat in my brokerage account for a few months then I sold them for a value of ~£50k which was a small loss during the period I held the stock

I therefore remain well under the CGT threshold but HMRC notes seem to suggest that as my total disposals were greater than £46,800 I need to complete the CGT section

Have I understood this correctly and does anyone know the reason for this?

Thanks in advance.

Keep_pedalling

Yes, for those who have to do SA the rules are you have to complete the CG section if the total value of your disposals exceed 4x your annual allowance regardless of the level of profit (or loss) made.

If you don’t normally do a SA then you don’t need to inform HMRC. No idea why, but I did have to do it a few years on the trot, when trying to maximise tax free profits while bed and ISA as much of my GIA as much as possible.

danm

Thank KP


I do need to do a SA - so i will complete this section. I had already performed the calculation so will keep any eye that it does not change as based on the above there should be nothing to pay.