About Capital Gains

Chargeable assets

All assets are regarded as chargeable unless they are specifically exempted from CGT.

Note: The date that a chargeable disposal is deemed to occur is the date that ownership of the asset changes hands (the unconditional contract date), which supersedes any payment date.

Non-chargeable disposals

Any gains or losses arising from the following are exempt from CGT:

gifts to charities, art galleries, museums, etc.
disposals caused by the death of the taxpayer.

Use the Capital Gains section to add details relating to disposals and losses.

Note: The dispose term is used to refer to an asset that you no longer own. For example, you may have sold it or given it away as a gift.

Add Capital Gains

Open the Capital Gains section.
Select the disposal type.

Q - Listed
U - Unlisted
L - Land and property
O - Other assets
R - UK residential property
N - Non-UK residential property

For simple transactions enter the Description, Disposal date, Gain, Loss, etc. as required.
For more complex transactions click the Full Details button.
Fill in the full details as needed. Click the Back button in the Capital Gains tab.
Click Save and Close when complete.

Edit Capital Gains

Open the Capital Gains section. A list of created Capital Gains appears.
Select the name of the capital gain under Description to open.
Make any changes and then click Save and Close.

Add Enhancement Expenditure and Costs

The term Enhancement Expenditure refers to expenses incurred when improving or upgrading an asset. For example, adding an extension to a house.

To Add Enhancement Expenditure and Costs

Open the Capital Gains section.
Click on the Transaction, click the Full Details button.
Click on the Cost hyperlink.
Click in the box below the date and add the Enhancement Expenditure / acquisition costs.

Date - Enter the date the expense was incurred.
Description - Describe the expense, e.g. home extension.
Cost - Enter the amount paid.
Comment - Type in any comments.

Click Save and Close.