I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Hi, Thanks, ***** ***** completing on line and cannot see a Q 38. I have shown the tax paid in the computations There is a Q about adjustments is that the Q 38 or is it elsewhere?
Sorry to be a pain,
I am using the HRMC software and it has no Q numbers. It looks as if it is a very simplified version with specific questions left out of the on line version, as in your 37-39.
I have completed the return (not submitted) and it has given me a figure of tax owed. If I calculate at 18% I get a tax payable of £3600, on the CG. However the software seems to have made adjustments on the information given resulting in a payment of £747 due. I will submit it and wait and see. However if you can give me any other ideas please let me know!
As an observation It does seem to me that we have a mismatch between the information you have on commercial software and the HMRC software which I as a one off CG payer have used. The descriptions bear no relationship to each other.
I have to be honest and say that I don't use HMRC software for filing client tax returns.
If I were you, I would also make a note of foreign tax suffered on the capital gain in the main section of the tax return under heading "Any other information" in case there are enquiries.
I hope this has been helpful.
Thank you for your help, I think I have it sorted now! I do have one final question.
I receive a state pension and HM software shows this as £114 (weekly figure) a figure I have to confirm. Do I need to multiply that by 52 for the return or leave it at £114-00? This is what the help page says
The figure of taxable State Pension has been provided by the Department for Work and Pensions (DWP) and is the figure of your weekly entitlements, even if you were paid monthly or quarterly.
Rod, thank you for your reply.
The pre-populated pension figure in the online return is provided by the Department for Work and Pensions. If the taxpayer or agent disagrees with the entry it can be overwritten. In such a case the online calculation will use the agent’s entry. HMRC recommend that if the figure is overwritten that an explanation is provided in the ‘white space’ box on the return.
Unless you disagree with the figure, I would leave it as is.I hope this is helpful and answers your question.