Capital gains tax - 30 day rule

TBC15

talexuser said:

I'm confused over this point. If you follow the route here
https://www.rossmartin.co.uk/private-client-a-estate-planning/capital-gains-tax/3350-reporting-capital-gains
gains don't exceed exemption, but proceeds are 4 times the limit, not in self assessment, then report using real time or register for self assesment.
The first time I sold more than 4 tmes the limit, but within the allowance with nothing to pay, I told the revenue and they then put me on self assessment from paye.

I hope someone who knows what they are talking about pitches up soon as I assumed if you’re not subject to self assessment and your gains are below CGT allowance no paperwork was required.

https://www.gov.uk/capital-gains-tax/work-out-need-to-pay

talexuser

The professional tax advisor is clear, without self assessment you should use the real time service to tell the revenue as this follows the government guidance. Whether they will care if you don't and there is anyway no tax to pay is up to you.

TBC15

I must admit it’s the first time I’ve heard of the CGT real time service. As there is no legislation associated with the service is there any requirement to use it if you are below the CGT allowance?