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CGT on self-assessment

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tribetown
tribetown Posts: 74 Forumite
Fourth Anniversary 10 Posts
I fill in a self-assessment each year for income tax, this year for the first time I have capital gains from the sale of Crypto assets.

There is a question
"Did you dispose of chargeable assets worth more than £50,000?"

On my CG tax software it says 
profits were £39k, losses £25k so I was thinking I should tick "No".
But it also says "Proceeds from sales £192k. Acquisition cost £179k.

I do not know where the £192k comes from as I invested nowhere near that amount.
"This is the amount you received from all your disposals. This figure can be higher than expected if you also traded with the proceeds from previous trades".

I guess it is higher because I reinvested rather than withdraw the funds.

On the above information should I tick yes or no to the question?

Thank-you.

Comments

  • Nomunnofun1
    Nomunnofun1 Posts: 682 Forumite
    500 Posts Name Dropper
    edited 18 June at 3:01PM
    You don’t tick ‘No’ if the  PROCEEDS, not the profit,  exceed £50000

    £192k is far in excess of £50000.
  • tribetown
    tribetown Posts: 74 Forumite
    Fourth Anniversary 10 Posts
    You don’t tick ‘No’ if the  PROCEEDS, not the profit,  exceed £50000

    £192k is far in excess of £50000.
    I see, thank-you.
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