Computation and Foreign tax
These two tabs provide a computation of the gains and losses and allow for the input of foreign tax information. For Help on the other areas within Capital Gains click on the links below:
- Gains summary
- Real Time Transaction Tax returns
- Capital losses
- Disposals
- Computation
- Foreign Tax Credit & SWT
Computation:
This tab displays a Capital Gains computation based on the disposals entered for the year. If you have not entered any disposals for the year then the computation will show only a zero gain.
Downloading the computation,
You can download a PDF copy of the computation by clicking on the Download PDF button. You can also download a copy from the Review & File tab for the Tax return after you have prepared the tax return for filing.
Including the computation with the tax return,
There are three options available, selected from a drop-down list alongside the question ‘Are you attaching a computation with this tax return?’
- ‘NO – Not required’ No computation will be attached
- ‘YES – Auto-attach this computation’ Taxfiler will automatically attach its computation to the tax return
- ‘YES – I have attached my own’ Use this option if you are attaching your own computation. You will need to attach the computation manually from the data input tab
Foreign Tax Credit & SWT:
- Foreign Tax Credit Relief and Special Withholding Tax
Use this tab to enter details of foreign tax and SWT for CGT purposes. See HMRC help sheet-hs263-self-assessment for more information.
- ‘Amount of chargeable gain under UK rules’ enter the amount of gain that would be payable if the UK CGT rules were used to calculate the gain
- ‘Foreign tax paid’ enter the foreign tax paid on the disposal
- ‘Total Foreign Tax Credit Relief on gains’ enter the foreign tax credit relief claimed
- ‘Special Withholding Tax’ enter any UK tax withheld.
Useful Resources