Trading account and Capital Gains Tax

SwiftF5

I think I've been an idiot. I have a trading account in which I invested some money by buying units in a couple of funds. Last year I decided to switch to a couple of different funds. So I sold all the units and then used the proceeds to buy units in the new funds (I did not withdraw anything). Even though I did not withdraw anything (I simply reinvested in other funds), I now realise that I have probably made myself liable for Capital Gains Tax haven't I (the amount in question is over the £3k CGT threshold)?

p00hsticks

https://forums.moneysavingexpert.com/discussion/6673839/trading-account-and-capital-gains-tax

When you say ' (the amount in question is over the £3k CGT threshold)?' by amount do you mean the total amount for the transaction, or the gain you have made ? (i.e selling price - buying price). CGT will only be due if the gain is more than £3k.

Presumably there's a reason why you are not holding these funds in an ISA ?

Woodstok2000

https://forums.moneysavingexpert.com/discussion/6673839/trading-account-and-capital-gains-tax

Yes, probably. Assuming this isn't an ISA, CGT is due when you realise your gain (e.g. when you sell the units). Is the gain over £3k, or just the transaction value?

sherlock228

you realised your gain by selling. What you did with the money from the sale (ie reinvested it) is irrelevant in your specific instance because you state you purchased different funds and therefore cannot claim a "rollover"

so, as others have said
a) was the gain >£3,000 yes or no?
and
b) was the sale outside of a stocks & shares ISA yes or no?

if yes, then you need to report your gain and pay the tax. When you say "last year" hopefully that means in tax year 25/26, so you still have time to do so via self assessment or online as applic to your circumstances.
Report and pay your Capital Gains Tax: If you have other capital gains to report - GOV.UK

SwiftF5

Thanks for the responses, much appreciated. Yes the gain was over £3k (it was £4.7k). It was in a trading account rather than a stocks and shares ISA because I had already used the £20k allowance for that year.

silvercar

when last year? In particular before or after 5 April?

SwiftF5

Last financial year (in Feb 2026). So after 5 April 2025 and before 5 April 2026.

I was planning on doing what @sherlock228 says above and register for self assessment so that I can file a self assessment tax return to declare it. But I thought I would check here first, just to confirm that I have been the idiot I think I have been.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82047869#Comment_82047869

There's no need to self-assess as such, if you don't already, as the linked article explains…

sherlock228

https://forums.moneysavingexpert.com/discussion/comment/82047869#Comment_82047869

if the only reportable "event" you have in 25/26 is the CGT then there is no need to regirster for self assesseent

Just complete and pay the CGT declaration as explained in the link.

SwiftF5

Thanks @sherlock228. I had no idea that service existed. I don't have any other reason to register for self assessment, so that is a big time saver, thank you.

sherlock228

https://forums.moneysavingexpert.com/discussion/comment/82048419#Comment_82048419

OK so for a gain realised in Feb 26 the deadlines are:

• report the gain via the online system by 31st Dec 2026 and
• pay the tax by 31 Jan 2027