CGT and selling or transferring of shares and self assessment tax return

LShackleton1

If you have some shares in a GIA to transfer into an ISA or sell and the gain is less than allowance and you don’t usually complete a self assessment tax return would you need to set one up in this case?  Thanks 

underground99

No, if the gain is less than the annual exemption and you have no capital gains tax to pay and you're not required to do a self assessment for any other reason, there's no need to do a self assessment to record the gain, or even to inform HMRC at all.

If you had made an overall loss instead of a gain, it may be worth telling HMRC so that you can carry it forward to use in future years, as you can't use it if you don't declare it.

MDMD

LShackleton1 said:

If you have some shares in a GIA to transfer into an ISA or sell and the gain is less than allowance and you don’t usually complete a self assessment tax return would you need to set one up in this case?  Thanks 

Just to be clear, when you say the “allowance” this is your CGT allowance / exempt amount of £12,300, not your ISA allowance.