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Posted Sun, 24 Apr 2022 00:37:14 GMT by hip007
I have started investing over the previous year and will have to register for self-assessment with the HMRC. Clicking through the website it turns out that i do not have the identity documents required for online registration Firstly,should i wait until HMRC hopefully/logically/surely allow us non-UK passport holders to register and file taxes online OR should I simply print out the Registration form , fill it and mail it to HMRC in return for a UTR now ? Secondly,suppose I receive this UTR in the mail over the coming weeks after registration. Will that number allow me to file taxes online? Should the answer be a majestic "Nein! Nein! Nein!" and I were NOT in the UK when I need to file taxes and the online systems are still lacking (paradoxical,given the push to "go green"), would I have to print the tax forms outside the UK and mail them all the way here ? Thirdly, perusing the notes to the capital gains summary (SA108) pdf I have a couple of quick questions I was hoping to receive your wisdom on: "Disposal Proceeds" : If i sell share A and receive 10£ & sell share B and receive -3£. Will my Disposal proceeds be 7 = 10-3 ? "Gains in the year,before losses" : Would this be 10 in light of the above example? "Losses in the year" : Would this be 3 in light of the example? "You must send us your computations, valuations,specified claim forms and any working sheets with the ‘Capital Gains Tax summary’ pages of your tax return. " (This is found in the first page of the above Pdf)....now,the SA108 form does not seem to contain any loose pages for such calculations,instead i found a template in the last pages of the notes pdf. Is this the template i need to fill in , one for each stock, and attach to SA108 when filing for taxes ? So 2 separately filled in templates given the simple example above with stocks A and B ? Help!!!
Posted Mon, 25 Apr 2022 12:48:49 GMT by hip007
please ignore the way i posed 3rd question..i forgot to revise the example and copied the wrong one! But could someone clarify whether i need to "send computations, valuations,specified claim forms and any working sheets with the ‘Capital Gains Tax summary’ pages of your tax return. " ? If i bought and sold two stocks...would i have to provide the computations for each one ? Will the template for those calculations be given as the last pages in the following pdf (notes to capital gains summary) Can i leave out such computations for cryptocurrencies since i am using commercial software  ?  Thank you!
Posted Wed, 27 Apr 2022 08:59:14 GMT by HMRC Admin 17

Hi,
 
If you are experiencing problems registering online then the alternative would be to contact your tax office who can set a Self Assessment record up on the telephone for you. 

This will generate your UTR number.  Regarding your Capital Gains query, unfortunately we cannot comment on hypothetical questions. 

Please use the online calculator to work out any tax due on Shares :

Tax when you sell shares  . 

Yes, the computation sheet can be found at the bottom of the SA108 notes . 

Thank you.
 
Posted Wed, 27 Apr 2022 09:12:08 GMT by hip007
Thank you for your response, Would you recommend waiting until June/July for the supposed reworking of the registration process or should I contact HMRC by post now to register for self-assessment instead? Is there any information pertinent to non-UK passport holders? Are the computation sheets necessary for all investments in stocks/cryptocurrencies? Thank you.
Posted Fri, 29 Apr 2022 14:28:42 GMT by HMRC Admin 10
Hi
You’ll need to send computations for each asset or type of asset you sold or disposed of in support of the Capital Gains Summary.
There are working sheets on pages CGN 11 and CGN 12 of the summary notes that you can use for simple calculations of gains or losses on the disposal of land, other assets and whole holdings of shares.
You do not have to use these working sheets, and cannot use them if you have part disposals of share holdings or cryptoassets.
You should ensure the computation you provide give sufficient information to show how gains and losses are calculated.
You will need to put ‘X’ in the appropriate box if your computation includes a valuation and tell us: the date of the valuation and a full description of the asset in the additional information 'white space' section, or in the computation.
Thankyou.
Regards.
 
Posted Mon, 02 May 2022 13:12:38 GMT by hip007
Thank you for your help, There was mention of the internet registrations portals to be changed around june/july this year. Can you tell us something about what changes there will be ? As a non-UK passport holder,I cannot register online for a UTR....will the updated system change this? It is really strange to have to print out pages and fill them by hand when everything is computerised anyways... Thanks.
Posted Tue, 03 May 2022 14:23:59 GMT by HMRC Admin 19
Hi,

You will need to send computations for each asset or type of asset you sold or disposed of in support of the capital gains summary. There are working sheets on pages CGN 11 and CGN 12 of the summary notes that you can use for simple calculations of gains or losses on the disposal of land, other assets and whole holdings of shares. You do not have to use these working sheets, and cannot use them if you have part disposals of share holdings or cryptoassets.

You should ensure the computation you provide gives sufficient information to show how gains and losses are calculated. You will need to put ‘X’ in the appropriate box if your computation includes a valuation and tell us, the date of the valuation and a full description of the asset in the additional information 'white space' section, or in the computation.

Thank you.


 
Posted Wed, 04 May 2022 13:44:58 GMT by HMRC Admin 17

Hi
 
hip007,
 
Customers that previously used GOV.UK Verify will now need to set up a Government Gateway account in order to access HMRC online services.

If a customer cannot set up Government Gateway credentials as they are unable to pass the identity verification, then these customers
should contact the
Online Services Helpdesk on 0300 200 3600 as they may still be able to submit their SA return digitally.

Thank you.
 
Posted Wed, 04 May 2022 13:53:58 GMT by hip007
Thank you, Just to be clear, Since i do not satisfy the identity-verification requirements of the Government Gateway Account , I need to either contact the helpdesk OR print/fill-out/send the registration form. Once i receive a UTR in the post, i can submit SA + Capital Gains Summary online ? Or would they have to be printed out and sent physically as letters? Regards.
Posted Wed, 11 May 2022 08:19:27 GMT by HMRC Admin 19
Hi,

As you do not satisfy the Government Gateway verification requirements, you should print off and manually fill out the relevant pages of the Self Assessment tax return and then send the return to HMRC (as you would a letter). 

Thank you.
Posted Wed, 11 May 2022 08:25:44 GMT by hip007
thank you, this is all a little counter intuitive...why not let everyone post online? if it can be done by mail, surely the website can be updated to enable online submissions.

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