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How To Report A Capital Gain To HMRC via Self Assessment Tax Return
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- čas přidán 9. 07. 2023
- Tutorial of how to report a capital gain to HMRC via the self assessment tax return. Including:
- How to tailor your return
- How to report the capital gain
- Understanding the tax calculation
Need help with your tax return? Use one of the forms below
To register for self-assessment (UTR/CIS) click here: bit.ly/utr-number
If you need help with your Tax Return click here bit.ly/cis-rebate
You have a great depth and clarity to your explanations. You almost make self-assessment tax a fun thing. Almost.
Hey @tax2u limited, I love your videos; very clear, concise and informative.
I'd love to see a video on how to dispose of EIS & SEIS certificates. Also for the scenario where we've claimed the initial 30-50% in past years.
You talk in video of uploading excel sheets - but no such option seems to exist. HMRC accepts PDFs only - "Note: You can only upload true PDF file formats. A maximum of 20 attachments are allowed and the total size of these attachments cannot exceed 5Mb" - this is from the self assessment form.
Very interesting and informative, how would one calculate capital gains on a property purchased 30 years ago
Excellent video. Thank you. Crypto CGT self assessment would be very interesting too.
Great suggestion!
@@tax2ulimited
hi, is there capital gains tax to pay on crypto you purchased and held for 2.5 years, and now selling for 50k profit?
thanks
This was an interesting video. I too sold some Tesla shares in a bed to isa transaction. Working out if you owe anything is tricky as the stock has had a stock split twice now, so working out the buying price is hard. Especially since on average I've been buying on a monthly period for some years now.
I'm confused about the time. On HMRC it says CGT needs to be paid within 30 or 60 days. But it seems on here you pay it in a year?
After watching to the end it seems if the tax is high ie £50,000 then they ask for it all straight away. Is that correct?
If I have no capital gains, just a regular salaried job, but I want to report losses from stock trades. Do I also have to start from where you started with taylor your return? Thanks
what if you have no income or self employment just have capital gain like 4000 to 10000 pounds. do you need to submit tax gain or what will be tax on this ?
7:33 Do Tax 2u or Taxscouts count as a tax advisor?
Do you guys deal with crypto capital gain tax advice?
It's difficult to find anything here or elsewhere which explains CGT in anything other than a one off current year tax calculation. What happens when you sell 6 years after you buy? Surely you should be able to accumulate those six years of annual personal CGT allowance to offset the total gain, to prevent the unfairness of being taxed on an appreciating asset when inflation over those 6 years may have eroded most, if not all, of the gain
thanks bud, how do you report a cryptocurrency capital gains loss?
I sold a house that I rented for a few years after living in it myself. I have already notified HMRC, and paid the capital gains owed. Do I also need to fill in this section of my self assessment (Self employed electrician)? If so, will HMRC then charge me again even though I have already paid? TIA
Really helpful explanation, thanks!
Can you carry a loss forward if you haven't declared it? Not declared because you're an employee and do not normally submit tax returns.
Yes agree with many others, your video explanation is thorough. However when your stocks investments are where dividends have been re-invested how do you calculate the capital gain when you finally sell just a portion of the fund?
Yes it can become pretty complicated based on each individual situation. If you need our help, just sends us an email to info@tax2u.co.uk and we can provide a competitive price and help you with your specific situation.
So my question is that I've made a loss on my crypto investments in the relevant year but have only limited records on those transactions (was still learning) who know Koinly existed. Anyway if I dont want to 'claim' a loss for that year, do I have to attach any computations? It seems to indicate that I only need to if 'you wish to claim an allowable loss' their words on the filing. Thank you grat video👍
Hi, I have an issue with reporting a BTL capital gain/liability. My wife disposed of a BTL property in June 2022 and we completed all the HMRC requirements on their website for them to advise the estimated CGT payable within 60 days of the sale. This was duly paid. The calculation was only an estimate because my wife's income position had to be estimate for the rest of the 22/23 tax year and the gain took her into the higher rate of CGT for BTL disposals. We are now completing her full 22/23 tax return and I can find no trace of the computation nor the payment in her tax account with HMRC! Can you advise how I can recall those entries and tie them into the end of year tax return. For reasons you mention in your video I would like to explain any possible questions, if any, before they are asked! Hope you can help.
My P60 has an * next to "In this employment" figure and it states use this for your tax return if you get one. If that figure is less than 50k do you need to do a tax return as a PAYE employee? I don't meet any other requirements (Capital gains etc.)
Is that capital gains loss a loss on disposals of assets or can you include your income losses?
Great video on capital gain. I have a question and i need help please. I do CFD trading since Dec 2017. i have made lost in 2017-2018, 2018-2019, 2019-2020, 2020-2021, 2021-2022 but made profit over £13000 in 2022-2023. Now, I never new i have to do self-assessment tax return for CFD trading until recently. This year, I am doing 2022-2023 tax return. can I offset the losses i made in 2021-2022 and before years, with the gains i made in 2022-2023, though I did not report HMRC about the loss I made? I have excel worksheet of all the CFD trading, which i can upload. Please reply me or if you are making another video, please explain this.
Thanks for this ...however I lost a load in the crypto LUNA and USTC debacle in May 2022 and want to put it that in as a Capital Loss - but am not exactly sure how to do this 🤷♂
In particular an example/sample spreadsheet of how to enter the calculations in a form which the HMRC approve would be good. Essentially where you have different purchase dates/FX rates /quantities and also different sell dates/quantities ,etc... I have my own spreadsheet for this purpose but if there was a standard exemplar version around, then that would be good... and also knowing which actual boxes to put the calculated values in would also be good !
Yes it can become pretty complicated ... If you need more help just sends us an email to info@tax2u.co.uk and we can provide a competitive price.
Hi 👋 this is a great video. Any chance you could tailor this to Crypto currency. Many thanks
great video a lot easier to follow than hmrc. But a quick question i've got over 400 transactions in commodities i.e. gold silver please tell me there's a easier way than entering each one. also where would any interest for or against be tablulated im assuming it would be in incidental costs
Hello can you assist-how would you attach the hs290 form for claiming provisional relief on my capital gain to the self assessment gorm
How do you do this with crypto?
My elderly parents knew nothing about CGT. One year later they still haven't paid it.
Hi ,
If sale property sale in India and get money in uk account with capital gain when and how i put amount .
Thank you. What should I do if I have more than 20 transactions?
Great Video. Could you confirm if in the Bank interest section you have to declare all interest received , even in current accounts, saving account’s, stocks and shares account? Also, if you are under the capital gains allowance, do you have to declare this on your tax return?
Yes you have to declare ALL INCOME. Thank you for your feedback and attention. if you need our help and have a specific question, just sends us an email to info@tax2u.co.uk and we can provide a competitive price and help you.
My tax is paid by paye. How to declare if I have more than 1000 pounds interest ?
Do you offer advice on ways of reducing tax liability? If so , I might give you a call
Thank you for your feedback. if you need our help, just sends us an email to info@tax2u.co.uk and we can provide a competitive price and help you.
Is there a video which you could recommend for completing a tax return for capital gains while I am also being taxed under PAYE
I agree. I'm running a side hustle on the weekends whilst working for my employer five days a week. I haven't found a video detailing tax for my assessment.
Where do you enter capital gains tax already paid, in your self assessment return?
Form SA108 box 12 link PDF here assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1148433/SA108_Notes_2023.pdf
So I trade the forex markets. My investment and £6000 I don’t have to declare till I go above that is that right?
You would need to declare it only when you sell what you invested and see if you made a profit or a loss.
Why dont you guys make a tax self assessment video for working people with a side hustle.
You don't show how to claim badr relief which is what I wanted
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