Table of contents

Creating a simple Capital Disposal

Last modified 10:20, 23 Oct 2015
Table of contents

Overview

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.

  1. On the main menu, click Capital Disposals > Capital Disposals AP.
  2. On the Capital Disposals window, click the Description and enter the disposal details.
  3. On the Type list, select Override.
  4. Click Date of disposal and enter the date.
  5. Enter an amount for Net proceeds
  6. Enter a Date of acquisition or in the case of share pooling the date of the unindexed cost
  7. Enter an amount for the cost
  8. Enter an amount for the indexation allowance
  9. 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
  10. 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.
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