Share Sale at Loss & CGT

philng

I am looking to utilise my CGT allowance for the year of £3k. I have some shares with small losses since purchase and some with gains. If I make say sales with £4k of gains but also some others with £1k of losses do I have to declare this to HMRC or as I long as I keep records am I ok if I keep within the £3k limit net?. I don't currently complete a tax return.

Woodstok2000

If you don't submit a self assessment, you can use the real time reporting option

https://www.gov.uk/report-and-pay-your-capital-gains-tax/if-you-have-other-capital-gains-to-report

philng

https://forums.moneysavingexpert.com/discussion/comment/81918971#Comment_81918971

Do I still need to do this if my net gain for the year falls below £3k in total?

Woodstok2000

https://forums.moneysavingexpert.com/discussion/comment/81918985#Comment_81918985

Only if you are doing self assessment already, or if the total sale price for all the assets (not the gain) exceeds £50k

phlebas192

https://forums.moneysavingexpert.com/discussion/comment/81918999#Comment_81918999

Not quite. If you don't need to otherwise submit a self assessment then you only need to let HMRC know if your net gains are greater than £3k. The total amount of the disposals doesn't matter in this scenario.

If you do need to submit a SA then you must complete the CGT section if either the net gains are greater than £3k OR total proceeds are more than £50k.

@philng - no, you don't need to inform HMRC.