Disposals

Use to add, edit or delete details of any chargeable gains or capital losses.

Selecting Add or Edit will open Disposal setup

Open this page by selecting Add or Edit from the Disposals page.

Rebasing election made If you have made a rebasing election on the Chargeable gains>Summary page, then this box will be ticked.
Unquoted shares Tick this box to claim relief against the overall profits of the company for any loss arising on the disposal of unquoted shares. Enter details of the claim at Losses on unquoted shares.
Description Enter a description of the asset for identification on the Chargeable gains disposals page.
Acquisition date Enter the acquisition date, either by entering it in to the box or by selecting it from the calendar.
Disposal date Enter the date of disposal or deemed disposal either by entering it into the box or by selecting it from the calendar.
Disposal type Identify the disposal as either whole or part.
Enhancement expenditure incurred on Use this box to show whether there was any enhancement expenditure. In the case of a part-disposal, show whether the enhancement expenditure relates to the whole asset or to the part disposed of. Enter the details of this expenditure on the Disposal details page.
Foreign tax Tick if the company is liable to pay foreign tax in respect of the disposal.
Foreign tax paid Enter the amount of foreign tax liable to be paid in respect of the disposal.
Deduct foreign tax Tick if the foreign tax is to be treated as an expense deducted from the chargeable gain.
Foreign tax eligible for credit (if different) If not all of the foreign tax is allowable as double tax relief, then use this box to enter the qualifying amount.

Open this page by selecting Add or Edit from the Disposals page and selecting the Disposal details tab.

Asset details

Shows the asset description entered at Disposal Setup.

 
Disposal

Enter Disposal proceeds.

If there are incidental costs of disposal, then click on the Incidental costs of disposal figure. This will open the analysis sheet on which you should enter all incidental acquisition and disposal costs.
  When dealing with a part-disposal, enter Market value of the retained part of the asset.
Cost/ value

Enter the original cost of the asset and any Gains rolled in.

If there are incidental costs of acquisition, then click on the Incidental costs of acquisition figure. This will open the analysis sheet on which you should enter all incidental acquisition and disposal costs.
Enhancement expenditure

This will only appear when you have indicated on the Disposal setup page that enhancement expenditure was incurred.

If this is a part-disposal and expenditure was incurred on the part disposed of, then click on the figure next to Expenditure on part disposed of. This will open the analysis sheet, on which you should enter details of the enhancement expenditure. The sheet allows you to differentiate between enhancement expenditure relating to the whole asset and that relating to the part disposed of.

If this is not a part-disposal or if the enhancement expenditure relates to the entire asset, then click on the figure next to Expenditure on whole asset, to open the expenditure analysis sheet.
Total expenditure calculation - cost Analyses the total expenditure of the disposed asset used at Calculation of gain/ (loss).
Calculation of gain/(loss)

This section shows the calculated chargeable gain or loss.

Where part or all of the gain is rolled or held over, enter the rolled or held over amount as a negative number in the Gain rolled or held over box.
   

How do I get here?

Assets> Chargeable gains> Disposals