Who should
complete SA108 Capital Gains Summary tax returns form
You must fill in the
SA108
Capital Gains Summary pages and attach your computations if in the
tax year:
- you disposed of chargeable assets which were worth more than
£36,800, or
- losses are deducted from your chargeable gains, and your
chargeable gains before losses and taper relief are more than
£9,200, or
- no losses are deducted and your taxable gains after taper
relief are more than £9,200, or
- you want to claim an allowable capital loss or make any other
capital gains claim or election for the year
To use the SA108 Capital Gains Summary form within
Andica Self
Assessment software for individual tax payers returns, while you
are within the 'What makes up your Tax Return' screen, select the
check-box for Question 7 - Capital Gains Summary. The software
provides a feature to prepare computations for each Capital Gain
event and it will automatically populate Box 35 'any other
information' with details of data entered in the computations.
Alternatively you can submit your computations in PDF format using
the attachment feature.
In working out if the assets you disposed of were worth more than
£36,800 use the market value of any assets you gave away or sold for
less than full value and ignore the following:
- disposals of exempt assets such as private cars, shares held
within Personal Equity Plans (PEPs) or Individual Savings Accounts
(ISAs)
- disposals of assets to your spouse or civil partner (if you
were living together at some time during the tax year)
- disposals of your own home where:
- it has been your only home during your ownership and was not
used for any other purposes, for example, in your business
- the house has been used as your home throughout your ownership
(but you can ignore the last three years of ownership)
- the garden and grounds disposed of at the same time do not
exceed half a hectare.
In working out your total chargeable gains include any gains
attributed to you (for example, because you are a settlor or
beneficiary of a trust, or in certain cases where you are a member
of a non-resident company).
If you are not UK domiciled and are taxable on the remittance
basis, in applying the limits above in respect of overseas assets,
include the proceeds and gains which were remitted to the UK in the
tax year.
You can use
SA108 notes to assist with information on how to complete
the Capital Gains Summary form.
Andica Self Assessment
Tax
Returns Software for Individual tax payers provides features for
completion of SA108 Capital Gains Summary forms along with
SA100 Main tax
return and all other
supplementary forms.
