Capital Gains Tax
If you sell high-value items (but not your main home or personal car), then you may have to pay capital gains tax. This also applies to investments and cryptocurrencies. There’s an explanation of what you pay capital gains tax on at
HMRC.
Apart from UK residential property which needs to be reported within 60 days, you can report your gains on your tax return in the tax year after you disposed of the item. You do this on a capital gains page SA108.
untied Pro supports capital gains, and the SA108 page
You can find the capital gains section in the app by going to: Taxes > Prepare your tax return > Income details > Capital gains
Alternatively, in your browser, go to: Tax Forms > Schedule SA108 - Capital gains
If you are returning any capital gains, HMRC asks that you
enclose your computations, including details of each gain or loss. We recommend attaching a PDF to your return which you can do using
untied in your browser. Contact us if you need help with this.
You can also use the
any other information box on the SA108 to tell HMRC:
- if you’ve used any estimated figures
- you’re making a claim or election for losses on foreign assets
- details of any foreign gains left out of your computations
- anything you’d like to add to support your computations
- the reference number for any ‘real time’ capital gains submissions or NRCGT returns made
- details of your computations and adjustments, or an explanation if you're not attaching a computation
You can see a full list of what might go in the 'any other information' box on page 9 of the
HMRC notes for SA108.