CGT Reporting Threshold

BertieBingo

Greetings I have a question on CGT reporting threshold.

Over the course of this year I have disposed several holdings which total over the 4x allowance (£48k) and thus I believe I need to report to HMRC on my next SA

When the time comes to report I will have my annual tax summary from my broker (AJBell) which should detail CGT records. I also have my own spreadsheet which details each transaction and the gains or losses made.

 My question is - I am not clear on the mechanism for how I incorporate the necessary detail into my online Self-Assessment. Do I have the opportunity to upload documents / records?

 I would appreciate any guidance or tips and offer my thanks in advance.

[Deleted User]

In the ’tailor your return’ section select the option to complete capital gains section. You can upload documents but I am not sure that it’s at all necessary from what you have said. 

You will have to wait to 6th April when online filing for 2022/23 is available. 

BertieBingo

Could you expand on why you think it may not be necessary?

[Deleted User]

BertieBingo said:

Could you expand on why you think it may not be necessary?

Have a look at the paper form for 2021/22 - under listed shares and securities. The only time that I have ever uploaded documents were for clients who were day traders (hundreds of transactions). There is also the facility to enter information in the ‘additional information’ box at the end.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1063019/sa108-2022.pdf

And the notes:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1063020/sa108-Notes-2022.pdf

BertieBingo

Thankyou for the help so far.

Assuming new tax year forms are similar then I believe I have the detail necessary to complete boxes 23 to 30 which will hopefully satisfy HMRC.

I actually have some losses from previous years not yet reported to carry forward, (I do not need to use these in this return). Can you advise which boxes I should utilise to add these I think its 47 but unsure.

If I dont need to complete SA in 2023-24 do these losses continue to carry over until I report any changes to my CGT circumstances?

[Deleted User]

You need to enter them in box 47 if not utilising them in 2022/23. 

You MUST report them within four years of the end of the tax year in which they were incurred but can be carried forward indefinitely. 

I think that you are worrying unnecessarily about ‘satisfying HMRC’. If they want information, they’ll ask for it!