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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 8582
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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I would like advice on whether I have completed a CGT

Customer Question

I would like advice on whether I have completed a CGT section in self assessment correctly - thank you
Submitted: 7 days ago.
Category: Tax
Expert:  taxadvisor.uk replied 7 days ago.

Hello and welcome to JustAnswer. I’mCustomer a UK based qualified accountant and tax advisor. I’m here to assist you. I’m reviewing your question and will respond to you shortly.

Please expand on your question - happy to review your CGT section for accuracy and completeness.
Many thanks

Customer: replied 7 days ago.
Thank you. I sold a property last year - and subsequently filed my CGT and paid the tax. I understand I now need to complete the CGT worksheet ( questions 77 - 91) in my self assessment return - is that correct ?
Customer: replied 7 days ago.
Hello - are you still there ? thanks
Expert:  taxadvisor.uk replied 7 days ago.

Thank you for your reply.

My sincere apologies for the delay in my response as I was away from my computer.

You need to complete SA108 Capital Gains Tax summary -section dealing with residential property. You don't need to complete the CGT worksheet on your self assessment tax return.

My aim is to give you a professional service. I hope this is helpful and answers your question.

If you need more assistance, please use the reply box below and let me know. It has been my pleasure to assist you with your question.

Many thanks

Customer: replied 7 days ago.
Thank you - could you direct me where to find this form in the property section and what number question it is - I can’t find it at all…
Expert:  taxadvisor.uk replied 7 days ago.

Thank you for your reply.

I have attached a link to SA108 - Capital gains Summary and Capital Gains Summary Notes

https://www.gov.uk/government/publications/self-assessment-capital-gains-summary-sa108

I hope this is helpful and answers your question.

Customer: replied 7 days ago.
Thank you - but I am unable to open this link and in any event, have to be able to access this form as part of my online self assessment. Are you able to direct me as to where this is ?
Expert:  taxadvisor.uk replied 7 days ago.
Thank you for your reply.

If you are using HMRC software to file your tax return then in Section 3 Tailor your return of Page 1of 3 put a tick to question dealing with Capital Gains Section. This will allow you to complete capital gains summary pages.

I hope this helps.

Customer: replied 7 days ago.
Thanks - this is what I have done. My confusion is that the Capital Gains Summary pages don't seem to be the same as the Form you have advised ? Are they supposed to be the same ? Which pages should I be completing? I will have another look in the morning and comeback to you, if this still doesn't make sense.
Expert:  taxadvisor.uk replied 7 days ago.
Thank you for you reply.

When you go to printout what you have entered using HMRC software, the finished product is what you see on published SA108. Both forms are the same.

I hope this is helpful and answers your question.

Customer: replied 7 days ago.
Ok - thanks. I'll see how I get on tomorrow. Thank you for your help. F
Expert:  taxadvisor.uk replied 7 days ago.

Thank you for your reply.

I hope this is helpful and answers your question.

If there are no other issues I will appreciate if we could regard this question as answered.

Many thanks.