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Post Info TOPIC: Shares & Tax Return
morgwick


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Shares & Tax Return
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Hi just checking (as not a tax specialist)... if shares have been sold in the 2009/2010 tax year, but the profit made was only £1200 (original shares bought in 2008) am I correct in saying that that they don't have to be declared as a capital gain on the 2010 tax return as below £10100?






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Gill
Brewsie


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Gill

The other requirement to complete the CGT section is if the amount you receive when you sell or dispose of an asset are more than four times the tax-free allowance (ie more than £40,400 for individuals in 2009-10)

So if you sell for e.g. £50,000 and make £1 profit, you have to include it.

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morgwick


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Thanks for the reply.

The shares were bought for £3400 and sold for £4600 so i assume then that nothing has to be declared on the Tax Return except for dividends received.

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adi2402


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You are correct, no declaration needed.

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Forgive the typo's I generally do not proof read. Just lazy I guess!
morgwick


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Thanks very much

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Gill
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