Chargeable Gains

Disposal Details

Asset type

Select the type of asset disposed of.
Description

Enter a description of the asset.
Date of disposal

Enter the date the asset was disposed of.
Proceeds / Market Value

Enter the Proceeds from the disposal of the asset. If the asset was given away or sold for less than it was worth (e.g. to a connected party) then enter the Market Value instead of the proceeds.

Incidental costs of disposal

Description
  • Enter a description of the incidental cost for this disposal.
  • You can enter more than one.

Acquisition Details

Date of acquisition

Enter the date the asset was acquired.
Original cost / Market Value

Enter the original cost of the asset. In certain circumstances the market value should be entered instead (e.g. when using the March 1982 value).
Incidental costs of acquisition

Enter the amount of any incidental costs of acquisition (e.g. agent's fees).
Total acquisition costs

Shows the total costs of acquisition.

Enhancement Expenditure

Description

Enter a description of the enhancement made to the asset.
Date

Enter the date the expenditure was incurred on the enhancement.
£

Enter the amount of expenditure incurred on the enhancement.
Total

Shows the total of all enhancement expenditure entered.

Gain / (Loss)

Gain / Loss

The unindexed gain is calculated using the information entered in the Disposal Details, Incidental Costs of Disposal, Acquisition Details and Enhanced Expenditure.

Indexation Allowance

This section is available if there is a gain and the asset was acquired before 1 January 2018.

Indexation allowance on acquisition

The allowance is calculated on the amount entered in Original cost / Market value. The amount can be edited if the allowance can be calculated on an alternative value where this is more beneficial.

Reliefs

This section is not available if there is a loss.

Rollover relief

Enter the amount of rollover relief claimed.
Other reliefs and exemptions

Enter the amount of any other reliefs or exemptions claimed. Any supporting information can be entered in Other Information.

Chargeable gain

The chargeable gain is calculated using the information entered in Disposals Details, Acquisition Details, Enhancement Expenditure, Indexation allowance and Reliefs.

Summary

Losses brought forward

Enter the amount for the first period in the software, otherwise populated from Losses carried forward in the previous period.
Restricted losses

Enter the amount of any losses that cannot be claimed in the current period, such as clogged losses or losses subject to the corporate capital loss restriction.

Capital losses were brought within the scope of the corporate loss restriction from 1 April 2020.

For tax losses brought forward to an accounting period, the corporate loss restriction generally allows a 100% deduction against profits up to the value of the £5m deductions allowance and a 50% deduction against profits exceeding the allowance.

Brought forward capital losses can only be offset against chargeable gains no matter when they arose.

Other Information

Use this to enter additional information to support the computation such as:

  • Details of where and why market value has been used
  • Details of any reliefs claimed