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Tax treated as paid

Chargeable Event

My client has a 'Chargeable Event Cretificate' relating to a Growth Bond.

Where do I enter the 'tax treated as paid' figure when completing the CGT pages on his SATR?

TIA

Michaela

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15th Oct 2018 16:02

The trick is not to enter it in the CGT pages, where it does not belong because it is not a Capital Gain.

Thanks (1)
By K81
15th Oct 2018 16:29

As mentioned not CG.

This should go the additional income pages under Gains from life insurance policies, capital redemption policies & life insurance contracts.

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15th Oct 2018 16:31

Agree.

You're on the wrong page.

Literally.

Thanks (1)
15th Oct 2018 22:32

Actually, it is a capital gain but deemed to be an income tax gain by virtue of complex UK tax rules surrounding chargeable event gains.
You put £40 k in
You get £60k out
Capital has definitely grown in value!
But you must NOT, I repeat NOT, put it on the CGT pages!

Thanks (1)
16th Oct 2018 10:52

It's questions like this that make me feel like an expert. Thank you.

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16th Oct 2018 16:46

Thank you for all your responses however I really do not understand why some of you have to be so rude!

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By Rweaver
to wrightsaccountancy
16th Oct 2018 17:58

wrightsaccountancy wrote:

Thank you for all your responses however I really do not understand why some of you have to be so rude!

I really do not understand how you can describe yourselves as “experienced tax planners” and yet ask the question at the start of this thread.

I guess some things are just a mystery.

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to Rweaver
12th Nov 2018 16:03

We have not described ourselves as “experienced tax planners”. We are a small Accountancy firm.

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By Rweaver
to wrightsaccountancy
12th Nov 2018 17:44

It’s on your website Michaela!

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