Capital Gains Tax declaration on multiple transaction

by **ny_rk** on Wed Jan 11, 2012 12:02 am

Hi

I'm in the process of completing my tax return and I am completing the capital gains section. I have executed over 200 futures transactions in the same product...is it possible to report one number that represents all these transactions in my return?

I'm a bit stuck on my tax form trying to figure this out so any help is appreciated.

thanks

by **pawncob** on Mon Jan 16, 2012 7:07 pm

You can summarise them on the CGT form, but you'll have to submit a CGT computation for each transaction.

by **ny_rk** on Mon Jan 16, 2012 7:58 pm

thanks...how do I attach the summary of the transactions when I'm completing self assessment online?

by **pawncob** on Mon Jan 16, 2012 10:39 pm

You have to complete a worksheet for each disposal (max 20)

The Summary is Section 4.

by **ny_rk** on Wed Jan 18, 2012 1:34 am

thanks....I have over 200 transactions...do I need to complete a worksheet for each one?

by **pawncob** on Wed Jan 18, 2012 10:59 am

HMRC don't allow for filthy capitalists who might want to trade more than twenty times a year!

Complete the summary on line and send hard copies of the worksheets (yes, all 200) to them by post. This complies with the law and shows them the inadequacy of their on line systems (Pearls before swine, I'm afraid)