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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15914
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am filling my wife's annual assessment /2015.My question

Resolved Question:

I am filling my wife's annual assessment for 2014/2015.My question is a s follows- My wife's
capital gains for the year below the Annual exemption amount.Is she required to include in her self assessment?
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. The net gains need to be disclosed if the total proceeds of all assets sold in a tax year exceed a multiple of four times the annual CGT exemption even if they (the gains) are below that exemption. As the CGT exemption for 2014/15 is £11,000, the multiple is £44,000. Take a look here for confirmation. I hope this helps but let me know if you have any further questions.
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