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Split Capital Gains Tax

How to report split capital gians on tax returns

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Can anyone please help me. My husband and I have just disposed of a joint asset, and have worked out what our capital gains will be. I need to know how to report this on out tax returns. Do we both put in the full breakdown of the disposal on our tax returns, and then put a note on that we are only liable for half the CGT.? Or is there another way to do this? 

Any help or guidance would be appreciated

Replies (4)

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Hallerud at Easter
22nd May 2019 09:49

I would put half the figures on each return, possibly with a white box note to explain the joint ownership and telling HMRC that remainder of gain reported under UTR 0123456789

Thanks (2)
By carnmores
22nd May 2019 12:15

is there not a box for entering other reliefs in which case you would take off half. i agree that white box notification is appropriate. if the CGT is substantial ask an accountant to check that you have availed yourself of all reliefs especially if it is property based.

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By Tim Vane
22nd May 2019 14:51

Enter just the figures for yourself. Do not enter anything in reliefs or you could trigger an enquiry. I disagree with the above that a white space note of the total gain is needed. All that is required is a calculation of your own gains entered in the whitespace; there is no requirement and it is not appropriate to include the gains of another person on your SA form.

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Replying to Tim Vane:
By carnmores
22nd May 2019 15:36

That's a quick double disagreement Tim you're in an aggressive mode today

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