This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

CGT/SA108 Help on property and share disposal

tigerspill
Posts:3
Joined:Sat Jan 08, 2022 1:45 pm
CGT/SA108 Help on property and share disposal

Postby tigerspill » Sat Jan 08, 2022 1:51 pm

Hi,

I am completing my SA108 and have a few questions I hope you can help with. Mainly around which boxes to complete.

I have two capital disposals in 2020/21

If I complete two CGT worksheets, one for disposal of a residential property and another for disposal of shared as follows -
1. Residential property sold at a capital loss on £2000 (Box 7 "Losses in the year" on CGT form)
2. Disposal of shared with a gain of £200 (Box 26 "Gains in the year, before losses" on CGT form)

Obviously I don't need to pay any CGT, but I want to carry forward the loss, but do I carry forward the whole loss of £2000 on the residential property, or do I combine the in year loss and gain into a loss to carry forward of £1800?

Do I need to then complete Box 47 "Losses available to be carried forward" with the loss (either £2000 or £1800 depending on above)? Are there any other figures, or boxes to fill in, I need to add to the form?

Which code do I use in Box 8 "If you’re making any claim or election, put the relevant code in the box". I assume I need to complete to claim the loss to carry forward?

Thank you.

Return to “Capital Gains Tax, CGT”