We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
CGT calculation on GOV.UK
Jitter
Posts: 30 Forumite
in Cutting tax
I have an investment portfolio that made a capital gain of £6142 in 24/25, I had losses totalling £10350 in the two previous years, all reported on my SA return.
I have completed (3 weeks ago) my SA for 24/25 and carried forward losses from the previous years to set against the £3142 that would have otherwise been liable to CGT.
On the GOV.UK website I can see a detailed breakdown of how the tax on my income, pension, dividends and and interest has been calculated, the last 2 lines of which are income tax overpaid £30.13, then plus Capital Gains Tax - which has no figure beside it.
Does this mean HMRC have calculated no CGT is due, which I believe is correct - but I cant find a breakdown of the calculation, can anyone advise if there is anywhere I can find this?
I am keeping a spreadsheet so I know what losses I am carrying forward (a requirement on the SA return), but it would be reassuring if I could check that these are in agreement with HMRC.
I have completed (3 weeks ago) my SA for 24/25 and carried forward losses from the previous years to set against the £3142 that would have otherwise been liable to CGT.
On the GOV.UK website I can see a detailed breakdown of how the tax on my income, pension, dividends and and interest has been calculated, the last 2 lines of which are income tax overpaid £30.13, then plus Capital Gains Tax - which has no figure beside it.
Does this mean HMRC have calculated no CGT is due, which I believe is correct - but I cant find a breakdown of the calculation, can anyone advise if there is anywhere I can find this?
I am keeping a spreadsheet so I know what losses I am carrying forward (a requirement on the SA return), but it would be reassuring if I could check that these are in agreement with HMRC.
0
Comments
-
It's called Self Assessment for a reason - if you entered a nil chargeable gain in the relevant box then there is nothing to charge capital gains tax on. HMRC haven't calculated anything - you did.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards