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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15977
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am filling my wife's annual assessment /2015.My question

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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?
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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