Tax Return SA100 - Commercial software?

sharepicker

I am registered for self assessment as I'm lucky enough to have interest/dividend income of £11000 . Filling in the SA100 in the past seemed easy enough but now it's getting complicated....for example I have some Banco Santander shares and divis were over £500 and a spanish tax was deducted. Also another share holding had a rights issue which I took the money and looks like this is liable to CGT. I approached a couple of Pro Account firms but they quoted enourmes fees to do a return....so wondering if it would be worth trying Commercial Software for self assessment as advertised on the HMRC website. Any thoughts or recommends please?

poseidon1

I use and can reccomend GoSimple tax per my detailed post on 15 June in the thread below:


https://forums.moneysavingexpert.com/discussion/comment/81500295#Comment_81500295?utm_source=community-search&utm_medium=organic-search&utm_term=Gosimple+tax

Appears their free trial is still running.

sharepicker

This looks good thank you....it appears free until you actually want to submit to HMRC so an ideal way to enter figures before committing

DRS1

Are you sure you need commercial software?  The HMRC version can cope with both those things.

For the CGT bit if your gain is less than the £3k annual allowance you won't need to report it anyway.

The Santander dividends might be able to go in the UK dividends part (it used to be up to £300 but I think they increased it recently - can't remember what the new figure is).  But if you need to do a Foreign Page it should be simple enough - the main bugbear is getting the foreign tax rate right.

poseidon1

sharepicker said:

I am registered for self assessment as I'm lucky enough to have interest/dividend income of £11000 . Filling in the SA100 in the past seemed easy enough but now it's getting complicated....for example I have some Banco Santander shares and divis were over £500 and a spanish tax was deducted. Also another share holding had a rights issue which I took the money and looks like this is liable to CGT. I approached a couple of Pro Account firms but they quoted enourmes fees to do a return....so wondering if it would be worth trying Commercial Software for self assessment as advertised on the HMRC website. Any thoughts or recommends please?

Just noticed your reference to sale of rights. Some rules to become familiar with.

If proceeds less than 5% of market value of your holding at date of disposal the, proceeds are deducted from pooled cost of the holding - see below

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg57835

If proceeds greater than 5% then you are stuck with a computation to ascertain the taxable gain attributable to those rights per below

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg57857

sharepicker

First of all I'm extremely grateful for your input. I think you are correct insomuch the HRMC and Gosimple return the same figure on tax due calculation with the figures I enter.

I am entering the rights issue sale (Pennon Group Plc total £7000) as full amount as a capital gain, but from your links I can see that that might not be correct. Some more investigation on my part needed I think to try and get my head round this.

Thanks again.

poseidon1

MODERATORS, @MiranjaneStrauss is clearly intent on flooding both Techie and Cutting Tax forums with spam today. Blocking their efforts would be greatly appreciated.

pecunianonolet

I just came here to ask exactly the same, about commercial software because HMRC only allows an SA109 to be done via software or paper.

I came across https://www.abratax.co.uk/ that is on the approved vendor list of HMRC and it's free but in my case it failed to calculate anything. Emailed support so let's see what they say. Any other software recommendations, ideally for free?