CGT online filing problem

CGT online filing problem

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Can readers assist with my CGT online filing problem.  My wife's broker churns her investments ruthlessly, and in a typical year he may undertake around 300 transactions on her behalf, giving rise to sales proceeds of around £70K, but always with the taxable gain below the taxable threshold.  When filing paper Tax Returns this wasn't a problem, as the usual CGT summary sheets were prepared, and the broker's schedules with all the other required information on them were then attached to the Return.

This year no paper Tax Return was received, which was not unexpected as she had had no tax liability for several years, so she was shocked to receive a letter last week from HMRC saying that since no paper Return had been received by them, her only option was to file online by the end of the month (is this just a ruse to get people filing online?).

The question is therefore:- is there any way my wife can attach scanned copies of her broker's schedules to her online Return, or must she transcribe all 300 transactions to the web-pages. Or can she JUST file these broker's schedules by post. You will appreciate that my marriage depends on finding a simple solution to the problem, as I assume it will repeat in subsequent years.

Is it also true that once you have filed a Return online, you can never go back to using a paper Return in subsequent years?

 

Replies (4)

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By johngroganjga
09th Jan 2014 10:20

HMRC seem to think that they have served your wife with a notice to submit a 2012/2013 return. You say that no paper tax return was received, but was a notice to deliver a return received?  That is the crucial piece of information.

If she has received no notice to deliver a return, and she has no untaxed income or gains, your wife is under no obligation to complete a return, online or otherwise.

If she is under an obligation to submit a return she has missed the deadline for submitting on paper and must do so online by the end of this month.  I would not call the extended time limit for those who file online a "ruse".  It is certainly an incentive to file online, if anyone needs an incentive.

Yes if your wife is filing a return online she can attach PDF attachments.

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James Reeves
By James Reeves
09th Jan 2014 11:01

Filing on paper

John has covered most of your points.

Next year, if you want to file on paper, ring the HMRC helpline after April and ask for a copy of the paper forms (or download them from the HMRC website and print them off). If you send these to HMRC by October 31 then you do not have to file online.

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By johngroganjga
09th Jan 2014 11:11

Agree with the above.  Sorry

Agree with the above.  Sorry I didn't answer the question in your last paragraph.

Once your wife has tried online filing I would be very surprised if she ever wanted to go back to paper.  I have never heard of anyone wanting to.   But if she does, James has rightly confirmed that she is at perfect liberty to do so, and explained what she needs to do in that event.  

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By Garfsar
09th Jan 2014 14:06

Many thanks to all of you for your advice.

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