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Posted Wed, 11 Oct 2023 12:30:43 GMT by JJ63
Hi I'm completing my self assessment return. I have a GIA via my financial advisers. At the end of the year they supplied a "tax certificate" which shows uk & foreign interest & dividends - I'm clear about where this needs to be reported. But the document of which the "tax certificate" is part then goes on to show a schedule of acquisitions and disposals (I assume this is all the buying and selling that has occurred within that period). The net position for last year is a loss. On the "tailoring your tax return" the first question relating to CGT is: - "If you disposed of any chargeable assets, or had any chargeable gains, or you wish to claim an allowable loss, or make any other claim or election, do you need to complete the Capital Gains section? Please check help before selecting" I assume I do need to complete then the CGT section as my GIA made a loss - is that correct? Or is a chargeable asset only related to physical items? Then within the CGT section one of the questions on the form is: - "Did you dispose of chargeable assets worth more than £49,200?" Are the individual "disposals" in the report something that I need to report upon (as they total far more than 49,200) and number around 90 in total. Thanks for your help J
Posted Mon, 16 Oct 2023 09:33:24 GMT by HMRC Admin 5 Response
Hi

Yes, the schedule of acquisitions and disposals, is your financial adviser providing evidence to support the figures on the certificate.  
You can attach this at the end of the return as additional information.  The online tax return asks if you had a capital gain, but not a capital loss, which can be confusing.  
The reason for this is that gains should be reported, however, declaring losses is optional.  
If you wish to declare the losses, please tick yes to this question, so that it includes the capital gains section of the tax return.  
You will then be able to declare the disposals, costs and the losses.

Thank you

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