Using Capital Disposals, you can:
- add, edit and delete Capital Gains made by a client
- claim Capital Gains reliefs and adjustments
- generate the form CT600G when you make a claim for CVS relief
The Capital Disposals Summary window provides a summary of the company's Capital Gains position for the Accounting Period (AP). It shows summary details of:
- gains/losses made in the AP
- utilisation of capital losses brought forward from earlier APs
- relief for losses against PCTCT for the AP
Topics in this Section
- You should use this to claim Relief/adjustments for Capital Disposals made by a company. The claim for Relief/adjustments is made per Capital Disposal and you may only claim one relief/adjustment per Capital Disposal.
- Use this for reporting a basic capital disposal with details of the cost and sale proceeds. If there are details to be entered such as enhancement costs then use the detailed CGT computation.
- You can create complex CGT Calculations in CCH Corporation Tax. The software lets you provide an analysis of the acquisition costs, enhancement costs, disposal costs and disposal proceeds.
- You can use this feature to enter simple disposals where you do not require the software automatically calculate the indexation allowance and gain or loss. This can be used where the calculation of the gain or loss is in relation to share transactions which are not currently handled by software. On the main menu, click Capital Disposals > Capital Disposals AP. On the Capital Disposals window, click the Description and enter the disposal details. On the Type list, select Override. Click Date of disposal and enter the date. Enter an amount for Net proceeds Enter a Date of acquisition or in the case of share pooling the date of the unindexed cost Enter an amount for the cost Enter an amount for the indexation allowance Where applicable, claim a relief by clicking on the Reliefs/adjustments are at the foot of the working area. Enter an amount of the relief or adjustment In the Chargeable Gain/(loss) field, enter the Gain/loss. Note If you use this disposal type then it is recommend that you attach a copy of any detailed calculations of the capital gain (in PDF format) when you validate the Corporation Tax return for online filing.