Capital gains tax pages in self assessment -questions on the calulation details required

itwasntme001

I need to complete the capital gains pages in the self assessment for 24/25, so inputting the calculation details for each of the asset disposals I have made during the tax year.  I have no CGT to pay but the disposals were > £50k so I still need to complete.  My questions are:

- I have made multiple purchases at various dates prior to the disposals in quesiton, but there is only room for one purchase date on the form.  Can I just put in the first purchase date; I imagine it won;t make any difference as the gain/loss itself is all that really matters?

- There are separate inputs for costs of pruchase and disposals, but can I just put the total disposal proceeds and total costs of aquiring (so includes stmap duty, broker fees etc) in one entry for each?  These are just listed shares.

- I have a couple of disposals which fall under the 30-day rule; I imagine I do not need to do anything different for these?  Purchase date would obviously be later than the disposal date?  I guess I should comment that it falls under the 30 day rule?

TIA.

eskbanker

The notes explain how to use working sheets prior to summarising on the main form:

https://assets.publishing.service.gov.uk/media/67e1612564220b68ed6a7009/SA108-Notes-2025.pdf

itwasntme001

eskbanker said:

The notes explain how to use working sheets prior to summarising on the main form:

https://assets.publishing.service.gov.uk/media/67e1612564220b68ed6a7009/SA108-Notes-2025.pdf

I had a look through that and it doesn't seem to answer any of my questions.

DRS1

itwasntme001 said:

I need to complete the capital gains pages in the self assessment for 24/25, so inputting the calculation details for each of the asset disposals I have made during the tax year.  I have no CGT to pay but the disposals were > £50k so I still need to complete.  My questions are:

- I have made multiple purchases at various dates prior to the disposals in quesiton, but there is only room for one purchase date on the form.  Can I just put in the first purchase date; I imagine it won;t make any difference as the gain/loss itself is all that really matters?

- There are separate inputs for costs of pruchase and disposals, but can I just put the total disposal proceeds and total costs of aquiring (so includes stmap duty, broker fees etc) in one entry for each?  These are just listed shares.

- I have a couple of disposals which fall under the 30-day rule; I imagine I do not need to do anything different for these?  Purchase date would obviously be later than the disposal date?  I guess I should comment that it falls under the 30 day rule?

TIA.

I'll have a go and a tax expert can tell me where I went wrong

For multiple purchases I just copied the form to my computer added extra boxes for each purchase and then did a total for the overall acquisition cost.  I can tell you it was a PITA.  If you are going to do it your way you might want to put each acquisition date in the date box?

For the separate inputs for price paid/received and associated costs I would include both and then put the total in the total box.  It probably doesn't make any difference but they may have a reason for wanting the bits split out.

I don't know about the 30 day rule. I guess that is right and you ignore earlier acquisitions.

GeoffTF

I just fill in the boxes in the online form and attach a PDF giving the calculations, which amounted to ten A4 pages on one occasion. It goes without saying that you need to know how to do the calculations correctly. It is also a good idea to check them with a spreadsheet. The worksheets are useless for anything complicated.

masonic

itwasntme001 said:

- I have made multiple purchases at various dates prior to the disposals in quesiton, but there is only room for one purchase date on the form.  Can I just put in the first purchase date; I imagine it won;t make any difference as the gain/loss itself is all that really matters?

- There are separate inputs for costs of pruchase and disposals, but can I just put the total disposal proceeds and total costs of aquiring (so includes stmap duty, broker fees etc) in one entry for each?  These are just listed shares.

Is this for Box 54? As DRS1 suggests, for the computations, why not just add a note referring to a separate attachment, then list for each acquisition:

Date, Number of shares, Price, Allowable costs, Tax, Overall cost

You can then calculate the total number of shares and cost for your Section 104 holding at any relevant point that there is a matching disposal of these shares, and add a row for the remaining shares and cost after each disposal.

itwasntme001 said:

- I have a couple of disposals which fall under the 30-day rule; I imagine I do not need to do anything different for these?  Purchase date would obviously be later than the disposal date?  I guess I should comment that it falls under the 30 day rule?

The rule is that you must match disposals with the nearest repurchase within 30 days in priority to the Section 104 holding. So that is something different, and it will affect your gain/loss. Since you have diligently listed your individual acquisitions, you can do the same for each disposal with:

Date, Number of shares, Proceeds, Acquisition cost, Gain/loss, Comments

In the comments you can then indicate that the cost figure refers to shares purchased on the later date, as opposed to the S104 holding. The purchased shares matched to a prior disposal under 30 day rule will not be added to your S104 holding, so keep them separate. If only part of your disposal can be matched, then you can split into two rows. Likewise, if only part of your future acquisition can be matched, then you can add the remainder to your S104 holding.

itwasntme001

masonic said:

itwasntme001 said:

- I have made multiple purchases at various dates prior to the disposals in quesiton, but there is only room for one purchase date on the form.  Can I just put in the first purchase date; I imagine it won;t make any difference as the gain/loss itself is all that really matters?

- There are separate inputs for costs of pruchase and disposals, but can I just put the total disposal proceeds and total costs of aquiring (so includes stmap duty, broker fees etc) in one entry for each?  These are just listed shares.

Is this for Box 54? As DRS1 suggests, for the computations, why not just add a note referring to a separate attachment, then list for each acquisition:

Date, Number of shares, Price, Allowable costs, Tax, Overall cost

You can then calculate the total number of shares and cost for your Section 104 holding at any relevant point that there is a matching disposal of these shares, and add a row for the remaining shares and cost after each disposal.

itwasntme001 said:

- I have a couple of disposals which fall under the 30-day rule; I imagine I do not need to do anything different for these?  Purchase date would obviously be later than the disposal date?  I guess I should comment that it falls under the 30 day rule?

The rule is that you must match disposals with the nearest repurchase within 30 days in priority to the Section 104 holding. So that is something different, and it will affect your gain/loss. Since you have diligently listed your individual acquisitions, you can do the same for each disposal with:

Date, Number of shares, Proceeds, Acquisition cost, Gain/loss, Comments

In the comments you can then indicate that the cost figure refers to shares purchased on the later date, as opposed to the S104 holding. The purchased shares matched to a prior disposal under 30 day rule will not be added to your S104 holding, so keep them separate. If only part of your disposal can be matched, then you can split into two rows. Likewise, if only part of your future acquisition can be matched, then you can add the remainder to your S104 holding.

Thank you.

I should have been clearer; all my disposals were full disposals for the tax year in question so makes things easier from that front.

I have used the SA forms to fill in the details and I just put in the date I purchased the shares initially in cases where multiple purchases were made.

I also did not separate out costs and lumped the sale and purchase amounts in one respectively.  As shown in the contract notes.

In any case I know for sure the end result would be the same, in that the gains and losses are true and there is no CGT to pay as I am within the £3k allowance.

I am hoping the above is good enough for HMRC.

GeoffTF

Many moons ago I found an example from a firm of accountants, and have used that as a model. Here is a simple example:

I bought 3,000 shares for £11,482.05 on 29/03/10.

I sold 1,000 shares for £6,451.50 on 07/03/17. The base cost of these shares was £11,482.05 x 1,000 / 3,000 = £3,827.35. Realised capital gain in FY 2016-2017 = £6,451.50 - £3,827.35 = £2,624.15. The base cost of the remaining 2,000 shares was £11,482.05 - £3,827.35 = £7,654.70.

I sold my 2,000 shares for £10,159.75 on 17/06/20. Realised capital gain in FY 2020-21 = £10,159.75 - £7,654.70 = £2,505.05.

I have never had any complaints.

itwasntme001

Just a further question:

Givne the CGT tax changes last year that became effective in 30/Oct, I understand the calculation is a bit more complicated if sales were made after 30/Oct and there is an "adjustment" box that needs to be filled in.  I did make sales before and after 30/Oct, but since the net capital gains (gains - losses) amounts to less than £3k, would the adjustment simply be 0?  There is never an adjustment needed if the net capital gains is less than the CGT allowance?

GeoffTF

itwasntme001 said:

Just a further question:

Givne the CGT tax changes last year that became effective in 30/Oct, I understand the calculation is a bit more complicated if sales were made after 30/Oct and there is an "adjustment" box that needs to be filled in.  I did make sales before and after 30/Oct, but since the net capital gains (gains - losses) amounts to less than £3k, would the adjustment simply be 0?  There is never an adjustment needed if the net capital gains is less than the CGT allowance?

That is correct, no adjustment is required:

https://www.icaew.com/insights/tax-news/2025/mar-2025/cgt-adjustment-may-be-needed-to-2024-25-tax-returns

Here is a fuller explanation of the adjustment:

https://www.rossmartin.co.uk/sme-tax-news/8343-hmrc-require-adjustment-on-tax-return-for-new-cgt-rates

DRS1

But if I only get down to the allowance by using losses from a previous tax year then I need to use the calculator and put in an adjustment?  Oh dear.