SA108 Capital Gains Summary Form

Who should complete SA108 Capital Gains Summary tax returns form

You must fill in the SA108 Capital Gains Summary pages and attach your computations if in the tax year:

  • You disposed of chargeable assets which were worth more than £44,400 or
  • Losses are deducted from your chargeable gains, and your chargeable gains before losses and taper relief are more than £11,100, or
  • No losses are deducted and your taxable gains after taper relief are more than £11,100, or
  • You want to claim an allowable capital loss or make any other capital gains claim or election for the year

To use the SA108 Capital Gains Summary form within Andica Self Assessment software for individual tax payers returns, while you are within the 'What makes up your Tax Return' screen, select the check-box for Question 7 - Capital Gains Summary. The software provides a feature to prepare computations for each Capital Gain event and it will automatically populate Box 35 'any other information' with details of data entered in the computations. Alternatively you can submit your computations in PDF format using the attachment feature.

In working out if the assets you disposed of were worth more than £44,400 use the market value of any assets you gave away or sold for less than full value and ignore the following:

  • Disposals of exempt assets such as private cars, shares held within Personal Equity Plans (PEPs) or Individual Savings Accounts (ISAs)
  • Disposals of assets to your spouse or civil partner (if you were living together at some time during the tax year)
  • Disposals of your own home where:
  • It has been your only home during your ownership and was not used for any other purposes, for example, in your business
  • The house has been used as your home throughout your ownership (but you can ignore the last three years of ownership)
  • The garden and grounds disposed of at the same time do not exceed half a hectare.

In working out your total chargeable gains include any gains attributed to you (for example, because you are a settlor or beneficiary of a trust, or in certain cases where you are a member of a non-resident company).

If you are not UK domiciled and are taxable on the remittance basis, in applying the limits above in respect of overseas assets, include the proceeds and gains which were remitted to the UK in the tax year.

You can use SA108 notes to assist with information on how to complete the Capital Gains Summary form.

Andica Self Assessment Tax Returns Software for Individual tax payers provides features for completion of SA108 Capital Gains Summary forms along with SA100 Main tax return and all other supplementary forms.