Negilible Value Claims - SA108

HMRC's system allows you to report capital gains to them in real time as you go along through the year - a bit like we 'pay as you earn' as we're getting our wages so that there is no big shock at year end when we do a self assessment return.

If during the tax year you submitted a 'real time transaction return' for the disposal of shares, and had some tax charged at the time... then when you do the SA108 after the end of the year, you need to remind them how much had already been reported and how much tax already got charged, out of the total gains and losses you are now reporting.

I assume this doesn't apply to you, so there's nothing to put in 29 and 30.


Couple of mistakes you have made at point 2 on your list.

a) what's the number of disposals you had in the year? The instructions say that all disposals of the same share on the same day should be counted a as a single disposal. So if you sold your 2000 shares on one day you would say it was one disposal. If you sold in two separate batches of 1000 shares on separate days, you would say it was two disposals. You would not say you'd made two thousand disposal events in a year unless you are an extremely active seller with loads of different companies being sold almost daily.

In reality, you didn't make any disposals but you are making a nil value claim to say that you have officially lost all the value of those shares without selling and want it to be treated as a disposal for nil value. So if it's just one company, put one disposal. If it's three companies, put three disposals.

b) Don't put £2500 for your proceeds of disposal. That would be telling them you had sold shares receiving £2500 of sales proceeds for shares that had cost you £2500 to buy, so there is no loss. But your position in a negligible value claim is that you got nothing for the shares that had cost £2500. So you should be saying box 25 allowable costs:£2500, box 24 proceeds: £0.