Personal Tax- Claim ‘Relief’ for Capital Gain Shares/Assets

ias-11681

Personal Tax- Claim ‘Relief’ for Capital Gain Shares/Assets

19th June 2014

IRIS Personal Tax- Claim Relief or 'Roll Over Relief' for Shares/Assets. To claim this relief, a disposal must first be entered within the Capital Assets area. It is also possible to claim this relief within Other Capital Gains once all details have been entered.

To claim a relief for a capital share/asset:

Note: the software does not calculate the relief value, the user is expected to make a manual entry here.

To claim through Capital Gain ‘shareholding‘, go to:
1) Income Menu – Dividends – Capital Assets. Set up the shareholding
2) Then select Operative Events and select Add to enter a Disposal
3) Once the disposal details have been entered tick to Claim Relief and choose Type of Relief (eg Type 1 is for Roll Over, Type 0 for Multiple).

To claim through Capital Gain ‘Asset‘, go to:

1) Income Menu – Dividends – Capital Assets. Create the Asset OR Other Capital Gains
2) Enter the gain details and if under Asset, go to disposal, enter details and then tick to Claim Relief. If under OCG, then tick Claim Relief
3) From the list: choose Type of Relief (eg Type 1 is for Roll Over, Type 0 for Multiple).

If you do not want to follow these steps to claim a relief for a Capital share/asset then you will need to contact HMRC support to request where they want this relief to show on the SA100 as the methods above are the main ways to enter them. There is no dedicated box on the SA100 for relief values.

The relief type will appear in Box 8/20/28/36 on the CG pages if there is only a sole claim of a Relief Type but will show a ‘MUL’ type (Multiple) if 2+ reliefs are claimed (Including ‘Business Assets Relief’ or BADR).

If your question is in regards to a Bustiness Tax Limited Company then you would go to Edit/Capital Assets and add the asset and then tick to claim relief and enter the description and amount.