Would the sale of shares go on a tax return if the profit made is less than the annual capital gain exemption?
Reason for completing the tax return is for a rental property, no self-employed earnings and the shares are just a small portfolio held for approx 5 years. There's no tax due.
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Stuart
Birmingham City FC - Blues is my religion St Andrews is my church
It depends on the size of the proceeds from the chargeable assets sold during the year. If they were more than £42,400 (4 x the annual exemption), then the capital gains pages would still need to be completed.
Page TRG 5 of Helpsheet 150 shows when capital gains pages need to be compelted.
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Pearce & Co - Chartered Accountant and Chartered Tax Adviser
