Self Assessment - What documentation is required for CGT

[mike]

Until now, I have always kept both my gross gains and total share sales below the respective limits for GCT reporting. Keeping gross gains rather that net (gains minus losses) below the limit means I do not have to report anything.

The HMRC worksheets seem to be for one purchase and one sale. My portfolio has built up over time, with perhaps 10 purchases of the same share. I am confident of the rules for disposal (same day, 30-day and s104 prices), but do not know how to present my data to HMRC in xls or pdf format.

Can anyone give me a link or post an example of how to send a CGT return to HMRC when there are muliple purchases over years of a share, and multiple sales of that share within a tax year ? [for transferring into an ISA]

Also, I know HMRC are informed regarding my income (pension, dividend, interest) by the providers so I do not have to send documentation, but for CGT do they just accept my data, or do I need to include all contract notes as well ?

My SA is done using the HMRC website.

Thanks in advance
Mike

[Lootman]

Can anyone give me a link or post an example of how to send a CGT return to HMRC when there are muliple purchases over years of a share, and multiple sales of that share within a tax year ? [for transferring into an ISA]

Usually you can just report one line item for each sale regardless of how many purchases it took to acquire that position. The cost basis is simply the sum of all the individual buy cost bases. So there will be one line item per sale. If it's a partial sale then you have to pro-rate the cost basis. If there are 2 sales in a tax year then that is 2 line items.

Contrary to HMRC SA instructions they do not appear to need either the acquisition date nor the number of shares. I enter blank and zero. It's the monetary numbers they need.

Also, I know HMRC are informed regarding my income (pension, dividend, interest) by the providers so I do not have to send documentation, but for CGT do they just accept my data, or do I need to include all contract notes as well ?

Never send contract notes. It's self-assessment so you provide the minimum they need and if they want to probe into any more detail they will contact you. Hasn't happened to me yet and I've been reporting capital gains and losses for 15 to 20 years now.

I can't help with the technical questions about the HMRC website because I don't use it. I prefer to submit my tax return in paper form.

[scrumpyjack]

I've been reporting gains, and sadly a few losses, for over 40 years. Only once have they asked for further details and that was when the chancellor increased the rate of CGT mid tax year. I made several large sales a couple of days before the budget and the inspector wanted copies of the contract notes to confirm they did qualify for the lower rate. If you wish or need to supply further details you can attach a PDF to your online return.

As Lootman says you don't need to give a date of acquisition where there were multiple purchase on different dates now that indexation no longer applies