Self Assessment - Capital Gains Forms

erb

My reading of the Tax Return Guide is that I have to request and complete the Capital Gains supplemantary pages because I have "disposed of chargeable assets worth more than £35,200" even though my gains are less then the allowable limit of £8,800.

If this is the case what is the point if there is no Capital Gains Tax to pay

Elaine_Wilson

HMRC need to check some calculations to ensure they are correct.

It makes sense that if any mistake has occurred then more tax will probably be recovered by looking at larger disposals than small ones. Thus a line is drawn exempting people from completing the CG pages if their disposal proceeds are small enough.

The figure chosen is a bit arbitrary but presumably is calculated to be cost-effective from the enquiry point of view.