Not declaring sub-CGT-limit gains

Jan 27, 2006 1 Replies

AIUI it is OK to not declare a gain provided no tax was due to start with.



So, if one is trading within a share portfolio, and each year makes the sub-£8k overall gain, there is no need to declare anything on the tax return.



Only if one wishes to carry forward CG losses from one tax year to next does one need to declare all the transactions.



Correct?



No. You should fill in the CG pages SA108 if the *value* of your disposals exceeds £32800, even if the gain is below £8200 and no tax is therefore due.

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