Timeline for Can I be taxed for receiving money from one bank to another?
Current License: CC BY-SA 3.0
4 events
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| May 26, 2017 at 12:48 | comment | added | Peter Green | Indeed, if it counts as capital gains (I'm not an expert on figuring out where the line between income and capital gains is drawn and the government advice linked above is clear as mud) and if it's only 10K (the OPs post said £10K+) then there is likely no tax to pay. | |
| May 26, 2017 at 6:42 | comment | added | Vicky | It is worth noting that (assuming the OP has no other capital gains) the profit would be under the personal exemption threshold in the U.K. anyway. Technically you are still supposed to declare it though - in the OP's shoes I would register for self assessment and complete a tax return myself, but would not expect any payment to be due as a result. | |
| May 25, 2017 at 19:37 | vote | accept | user56929 | ||
| May 25, 2017 at 19:23 | history | answered | Peter Green | CC BY-SA 3.0 |