SA CGT computation worksheet

[Fluke]

Having to report a capital gain this year for the first time, I bought the shares in 2 different lots on different dates several years apart and disposed of them in one lot last year (re-bought inside my ISA). I answered yes on the SA to 'do you want to use a computation worksheet' and started to fill it in but when you get to the date of acquisition it only gives you one set of boxes, ie there is nowhere to say that you bought the shares in 2 lots, different dates different amounts. I've deleted the worksheet for now as I didn't know how to fill it in.

Anyone know how to report this?

[simoan]

Having to report a capital gain this year for the first time, I bought the shares in 2 different lots on different dates several years apart and disposed of them in one lot last year (re-bought inside my ISA). I answered yes on the SA to 'do you want to use a computation worksheet' and started to fill it in but when you get to the date of acquisition it only gives you one set of boxes, ie there is nowhere to say that you bought the shares in 2 lots, different dates different amounts. I've deleted the worksheet for now as I didn't know how to fill it in.

Anyone know how to report this?

Surely you can just report it as 2 separate acquisitions with disposals at the same price and date. That’s all I do.

[Fluke]

Surely you can just report it as 2 separate acquisitions with disposals at the same price and date. That’s all I do.

Well that makes sense as you can do up to 20 worksheets, it's just that they frame it as one worksheet per disposal for the asset in question.

[TedSwippet]

Having to report a capital gain this year for the first time, I bought the shares in 2 different lots on different dates several years apart and disposed of them in one lot last year (re-bought inside my ISA). I answered yes on the SA to 'do you want to use a computation worksheet' and started to fill it in but when you get to the date of acquisition it only gives you one set of boxes, ie there is nowhere to say that you bought the shares in 2 lots, different dates different amounts. I've deleted the worksheet for now as I didn't know how to fill it in.

Anyone know how to report this?

Previous discussion: Why does CGT online self assessment _require_ a purchase date

TL;DR -- Sloppy programming in this area of HMRC's online self-assessment. Ignore it; for all practical purposes any date here will be irrelevant anyway.

[Lootman]

Surely you can just report it as 2 separate acquisitions with disposals at the same price and date. That’s all I do.

Well that makes sense as you can do up to 20 worksheets, it's just that they frame it as one worksheet per disposal for the asset in question.

Since we are forced to use average cost basis, you don't even need to split it out into 2 tax lots. it is simple and no worksheet is needed:

Add the net cost of the two purchases. Subtract that amount from the net proceeds. The result is the gain.

Seems to me that doing anything else, like using worksheets or other online "aids" or "apps", just makes it more complicated and confusing.

By the way, although the return asks for acquisition dates and number of shares, you can omit them. They are not looked at or used.

[y0rkiebar]

I made a partial disposal from a section 104 stock position I've built up over a number of years.
As it was a partial disposal then HMRC state not to use their computation worksheet and add my own instead.

I included:
Share ticker
Original holding
Disposal date
Shares sold
Disposal proceeds
Allowable cost
Taxable gain

I hope that will be sufficient!

[Fluke]

Well that makes sense as you can do up to 20 worksheets, it's just that they frame it as one worksheet per disposal for the asset in question.

Since we are forced to use average cost basis, you don't even need to split it out into 2 tax lots. it is simple and no worksheet is needed:

Add the net cost of the two purchases. Subtract that amount from the net proceeds. The result is the gain.

Seems to me that doing anything else, like using worksheets or other online "aids" or "apps", just makes it more complicated and confusing.

By the way, although the return asks for acquisition dates and number of shares, you can omit them. They are not looked at or used.

I read this too late, in the end I did do a worksheet by doing what others suggested, I used one of my acquisition dates, added the purchase numbers together and entered a single cost of purchase in the relevant box. The calculations tallied with my own and the worksheet gave me a box to offset the net gain against previous years losses.

The problem with what you suggest above is that unlike say the Interest or Dividend sections, you are reminded at several stages in the CGT section to provide your computations, you can either do a worksheet(s) or upload your own computations and right at the end of the section there is an 'any other information' box with the instruction to provide your computations if you haven't done so elsewhere. So even if they're not using them they seem keen for us to provide them.

[Fluke]

I made a partial disposal from a section 104 stock position I've built up over a number of years.
As it was a partial disposal then HMRC state not to use their computation worksheet and add my own instead.

I included:
Share ticker
Original holding
Disposal date
Shares sold
Disposal proceeds
Allowable cost
Taxable gain

I hope that will be sufficient!

Out of interest did you do this by uploading a spreadsheet or by filling in the 'any other information' box at the end?

[simoan]

Since we are forced to use average cost basis, you don't even need to split it out into 2 tax lots. it is simple and no worksheet is needed:

Add the net cost of the two purchases. Subtract that amount from the net proceeds. The result is the gain.

Seems to me that doing anything else, like using worksheets or other online "aids" or "apps", just makes it more complicated and confusing.

By the way, although the return asks for acquisition dates and number of shares, you can omit them. They are not looked at or used.

I read this too late, in the end I did do a worksheet by doing what others suggested, I used one of my acquisition dates, added the purchase numbers together and entered a single cost of purchase in the relevant box. The calculations tallied with my own and the worksheet gave me a box to offset the net gain against previous years losses.

The problem with what you suggest above is that unlike say the Interest or Dividend sections, you are reminded at several stages in the CGT section to provide your computations, you can either do a worksheet(s) or upload your own computations and right at the end of the section there is an 'any other information' box with the instruction to provide your computations if you haven't done so elsewhere. So even if they're not using them they seem keen for us to provide them.

IMHO you did the right thing as you had so few entries to make. Just fill in all the boxes requested unless you have very complicated CGT requirements. Yes, the online form could be better designed but when it comes to HMRC the path of least resistance is best.

[Fluke]

IMHO you did the right thing as you had so few entries to make. Just fill in all the boxes requested unless you have very complicated CGT requirements. Yes, the online form could be better designed but when it comes to HMRC the path of least resistance is best.

Yes I think so. In the box where you select the type of asset, in this case UK listed shares, there is a box below which gives you the option to provide further info, it gives you an e.g. of number and type of shares so I simply put xx shares in Diageo PLC, I didn't elaborate on dates of purchase or anything else as I wasn't required to.

So many people, hundreds of thousands probably, this year will be similarly caught and having to report relatively trivial capital gains, many like me won't have accountants or be used to the process, I wonder how they're going to cope with the inevitable administrative burden of dealing with queries and chasing people for payment.

[Lootman]

Since we are forced to use average cost basis, you don't even need to split it out into 2 tax lots. it is simple and no worksheet is needed:

Add the net cost of the two purchases. Subtract that amount from the net proceeds. The result is the gain.

Seems to me that doing anything else, like using worksheets or other online "aids" or "apps", just makes it more complicated and confusing.

By the way, although the return asks for acquisition dates and number of shares, you can omit them. They are not looked at or used.

The problem with what you suggest above is that unlike say the Interest or Dividend sections, you are reminded at several stages in the CGT section to provide your computations, you can either do a worksheet(s) or upload your own computations and right at the end of the section there is an 'any other information' box with the instruction to provide your computations if you haven't done so elsewhere. So even if they're not using them they seem keen for us to provide them.

I guess it is true to say that you can never provide too much information. And providing that level of detail might answer a question the taxman has that would otherwise need a letter.

But for the last 20 or so years of reporting taxable capital gains I have provided only skeletal information, and that has never caused a problem. The only data I submit (per disposal) is:

1) Security name and ticker
2) Date of disposal
3) Cost basis
4) Net proceeds.
5) Gain (this being derived from (3) and (4)

I show no working, no computations, no acquisition date and no number of shares. The taxman does not appear to care.

PS: This is a paper return, prepared by an accountant. I do not touch anything onlune and do not have a HMRC account.

[the0ni0nking]

So many people, hundreds of thousands probably, this year will be similarly caught and having to report relatively trivial capital gains, many like me won't have accountants or be used to the process, I wonder how they're going to cope with the inevitable administrative burden of dealing with queries and chasing people for payment.

I suspect they won't care. People will submit with whatever numbers and ultimately pay the bill.

No contact with anyone from HMRC.

[y0rkiebar]

Out of interest did you do this by uploading a spreadsheet or by filling in the 'any other information' box at the end?

Uploaded a PDF of a google sheets spreadsheet.

[Nocton]

I always put the date of the first acquisition of a share. As others have said, it does not really matter. For most of my shares I have bought them in more than one trade. Filling in several worksheets for one disposal would be a tremendous chore, as I often have several share sales in a year. The real calculation chore is when one acquires a share with several buys and then sells just a part of the holding. The calculation is much more complicated, so easiest to use professional software. I use Meridian Investor 4, which gives a nice CGT print-out ready to enter into the CGT worksheet; also allows one to do preliminary calcs of what the CGT might be. That's become even more necessary now that the CGT allowance is only £3,000. As with tax on dividends - going from a tax credit to a tax charge, the past 14 years of Conservative government have severely increased the tax burden on private investors.