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CGT on self-assessment
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tribetown
Posts: 74 Forumite

in Cutting tax
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.
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.
0
Comments
-
You don’t tick ‘No’ if the PROCEEDS, not the profit, exceed £50000
£192k is far in excess of £50000.2 -
Nomunnofun1 said:You don’t tick ‘No’ if the PROCEEDS, not the profit, exceed £50000
£192k is far in excess of £50000.0
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