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£200 of shares do I need to pay tax on that or declare it?

3 replies

ElfontheShelfIsWATCHINGYOUTOO · 15/12/2023 07:04

Just wondering, no capital gain but that limit is 6 grand anyway...

OP posts:
LizzieBennetsBonnet · 15/12/2023 07:15

You may need to pay tax on dividends from shares although there is a dividend allowance which charges the first £1000 of dividends at 0%. If you sell the shares and make a gain or get a payment on a capital reorganization of the share capital then that may be subject to capital gains tax but as you say there is an exemption for the first £6000 currently. Just owning shares doesn't give rise to a tax liability.

ElfontheShelfIsWATCHINGYOUTOO · 15/12/2023 07:38

Thanks lizzie. That was my assumption but nothing clearly said yes, you can sell under x shares and not declare it etc.

OP posts:
Chasingsquirrels · 15/12/2023 08:39

If your total gains are less than the tax-free allowance
You do not have to pay tax if your total taxable gains are under your Capital Gains Tax allowance.
You still need to report your gains in your tax return if both of the following apply:

  • the total amount you sold the assets for was more than 4 times your allowance
  • you’re registered for Self Assessment

https://www.gov.uk/capital-gains-tax/work-out-need-to-pay

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