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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 15461
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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In May 2019 I sold my remaining 358 BT shares and was paid

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In May 2019 I sold my remaining 358 BT shares and was paid £650 . Do I have to declare this on my tax return
JA: Which tax year are you filing for?
Customer: 2019-2020
JA: Anything else you want the Accountant to know before I connect you?
Customer: I am being told by HMRC they will not send me my usual tax form I have to return online, not sure whether i can download papers first so as to make sure I do not make mistakes OR as I only have to file a return because i earn a £3000 a year pension from Guernsey can i just fill in the Foreign page online and leave the rest as my pensions are all PAYE?

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Hi

Is this the only capital gain you made for the year ?
Thanks

Sam

Customer: replied 5 days ago.
I wouldnt call it a gain, they were sold at a loss and I have never come anywhere near the £5000 allowance
Customer: replied 5 days ago.
No thank you. I am completing my tax return. The only shares i sold were these BT remaining shares o/side my ISA. I have held BT shares since they were privatised in 1980's? Each year staff were given shares, these went into ISAS 358 remained o/s, I sold them when they were falling off the table at a loss , was paid £650 pounds, do I have to declare on my tax form

Hi

I cant know its a loss - then you should declare it in case you have any gains in future and the exemption is £12000 not £5000

So no you do not declare on your tax return but declare your pensions and foreign income

Thanks

Sam

Customer: replied 5 days ago.
I thought the exemption was £12000 for this current tax year not last year???
Customer: replied 5 days ago.
Thank you, ***** ***** all I needed to know. As i will not be filing any more tax forms this current year, I would now like to cancel the £35 per month fee . Do i have to wait until you contact me or can i request this now please?

If last year then £1200 if this year £12300

You cancel the membership fee yourself - let me know if you require help doing this

But if you have all you need, then it would be appreciated if you could rate the level of service I have provided

Thanks

Sam

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