hmrc online tax return 'which boxes to use'

help with filing online return

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I have spoken to my tax accountant who was unable to help as they do not use the on-line HMRC filing system.

During 2015/16 I disposed of £15k of EIS shares for nil value. At the time of purchase (2009) the investment was used to defer a capital gains liability.

I therefore need to enter a CGT amount of £15k on my 2015/16 tax return.

When I enter the amount of £15k in the 'Deferred gains from before 23 June 2010 qualifying for Entrepreneurs' Relief' the tax due does not increase. I would have expect an additional liablity of £15k less annual allowance x 28%.

I also need to know in which box would I enter the £12k (£15k less 20% tax relief) loss on shares that qualifies for relief against income.

I would appreciate any help in determining where these amounts are entered on the HMRC online tax filing system.

 

 

Replies (10)

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Stepurhan
By stepurhan
24th Jan 2017 17:19

If you have a tax accountant, why are they not filing your return using their own software?

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By User deleted
24th Jan 2017 17:29

I have always done it myself as up until this year the entries have been fairly straight forward. I use the tax accountant to provide certain advice to my clients and deal with CT computations etc. When I spoke to him a few days ago he simply could not help me although I was quite happy to pay for his services. Sounds daft I know.

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RLI
By lionofludesch
24th Jan 2017 17:31

We're all banned from using HMRC software now.

Just like your own tax accountant.

You're asking the wrong people.

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By Tim Vane
24th Jan 2017 17:48

It's very nice that you don't need an accountant to help do your tax return.

:-)

Oh dear.

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By petersaxton
24th Jan 2017 18:18

You want to do your own tax return.
HMRC doesn't want agents to use their tax software therefore we don't know how to use it.
Why don't you ask HMRC? That could be fun.

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By User deleted
24th Jan 2017 18:38

It sounds like I am not the only one baffled by the HMRC software not much of a comfort though

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Replying to User deleted:
Stepurhan
By stepurhan
24th Jan 2017 20:40

brash wrote:

It sounds like I am not the only one baffled by the HMRC software not much of a comfort though

We're not baffled by it. I have no doubt most people on here could resolve your problem if we could access the system. But we can't, so you have two choices.

Continue to struggle on your own, possibly with whatever limited assistance the HMRC helplines have to offer (which, given past experience, may also be wrong)

Pay an accountant with the relevant software to assist you.

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the sea otter
By memyself-eye
25th Jan 2017 13:47

Hold on.... We are only 'banned' from using HMRC's CT software.
I'm still using their SA online service to file clients' returns.

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Replying to memyself-eye:
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By legerman
26th Jan 2017 15:21

memyself-eye wrote:

Hold on.... We are only 'banned' from using HMRC's CT software.
I'm still using their SA online service to file clients' returns.

My first thoughts, but then realised that the OP has already started his SA return, and we are not allowed to access an account using a tax payers access ID.

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