[SnoopZ]

Yes I can't really make sense of this reporting limit too.

It's left me confused as to whether I need to report a CGT amount of over £6000 in 2023-24 or not it's bloody confusing, the below seems to imply there is already a reporting limit of 50K.

The CGT ‘proceeds reporting limit’ will be stay at £50,000. Total disposals, in any tax year, of less than this amount do not have to be reported in the client’s self-assessment. Gains on shares held within ISAs aren’t subject to a CGT charge.

https://www.libf.ac.uk/news-and-insi...ital-gains-tax

Edit

Think I've found something that may explain the reporting limit, this suggests as the value of the shares I will sell next year may only be £12K from which the shares cost me £5400 to acquire in my works share save from which I would make a £6600 profit which means I will be over the CGT limit by £600 so would need to pay 10% so £60 in tax. My reporting amount is well under the £48K in this article so I won't need to report it and they will just tax me for it?

Example

Peter, who is single and resident and domiciled in the UK, made three disposals in the tax year 2019–20: disposal of his home for £600,000 with a gain of £200,000, his shares in A plc for £14,000 with a gain of £3,500 and his shares in B plc for £35,500, with a gain of £8,000. There are no losses brought forward. The house has been Peter's principal private residence throughout the period that he has owned it.

None of the gain on the sale of the house is chargeable to capital gains tax because of the principal private residence relief see ( 540-000 ). Therefore, the disposal of the house is not a chargeable disposal. The gains on the disposal of the shares in A plc and B plc are chargeable to capital gains tax and so are chargeable disposals.

For the purposes of the exempt amount limit constituent of the reporting limit, the amount of chargeable gains accruing to Peter in 2019-20 is £11,500 (namely, £3,500 for the shares in A plc and £8,000 for the shares in B plc). The exempt amount limit is £12,000. Hence, the exempt amount limit has not been exceeded.

For the purposes of the disposal proceeds limit constituent, the aggregate amount or value of the consideration for all chargeable disposals of assets made by Peter in 2019-20 is £49,500 (being £14,000 for the shares in A plc and £35,500 for the shares in B plc). The disposal proceeds limit is £48,000, being four times the exempt amount of £12,000. Hence, the disposal proceeds limit has been exceeded.

As the reporting limit has been exceeded (i.e. the disposal proceeds limit constituent), Peter is required to complete the capital gains pages of his 2019–20 tax return.

https://library.croneri.co.uk/cch_uk/btr/180-475