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CGT acquisition dates

Practical Issues
toofast2live
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CGT acquisition dates

#460839

Postby toofast2live » November 25th, 2021, 1:34 pm

I bought 20 shares in sept 2020 and another 100 in the same company in october 2020. I have pooled the costs to arrive at an average cost

I made a partial sale of 80 on 10 jan 2021, making a capital gain.

When i try to fill in the computational worksheet of the SA return it only gives the space for one acquisition date. How do i deal with this please? Do i have to submit a separate pdf attachment later?

Thanks for any help

genou
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Re: CGT acquisition dates

#460861

Postby genou » November 25th, 2021, 2:37 pm

Put in the earlier of the two dates. It has no practical effect in your circumstances.

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Re: CGT acquisition dates

#460890

Postby TedSwippet » November 25th, 2021, 4:13 pm


toofast2live
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Re: CGT acquisition dates

#461122

Postby toofast2live » November 26th, 2021, 11:57 am

Thanks to you both for your help. Appreciated.

Lootman
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Re: CGT acquisition dates

#461179

Postby Lootman » November 26th, 2021, 2:20 pm

toofast2live wrote:Thanks to you both for your help. Appreciated.

As noted in the cited thread and elsewhere here, HMRC does not use either the acquisition date nor the number of shares. It asks for both of those items, but nothing happens if you do not complete them. I put zero for the number of shares and it has never been a problem. The acquisition date I just leave blank.

The acquisition date requirement probably dates back to when we had indexation of gains, and has no purpose any more. The number of shares never did have any purpose that I know of.

In fact HMRC really only needs the net cost basis and the net proceeds, and at a pinch the disposal date just to know the realisation was declared in the appropriate tax year. The rest is fluff.

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Re: CGT acquisition dates

#461293

Postby TedSwippet » November 26th, 2021, 8:55 pm

Lootman wrote:The acquisition date I just leave blank.

Just a note here ... the CGT worksheet in HMRC's online self assessment not only offers just a single acquisition date field, but it also insists on there being a value present. The system will not proceed until you enter a date.

This forces you to either pick one of the many acquisition dates you have for a pool composed of shares from more than one purchase, or make something up. Poorly programmed.

Lootman
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Re: CGT acquisition dates

#461443

Postby Lootman » November 27th, 2021, 6:35 pm

TedSwippet wrote:
Lootman wrote:The acquisition date I just leave blank.

Just a note here ... the CGT worksheet in HMRC's online self assessment not only offers just a single acquisition date field, but it also insists on there being a value present. The system will not proceed until you enter a date.

This forces you to either pick one of the many acquisition dates you have for a pool composed of shares from more than one purchase, or make something up. Poorly programmed.

I should clarify that I do not use the HMRC online system, and do not have an online account with them.

If I did and was forced to enter something then I guess I would just pick the original purchase date of the lots being sold. Or enter an approximate date if I had no idea what date that was! The tax return itself does accept blanks for the date.

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Re: CGT acquisition dates

#461492

Postby daveh » November 27th, 2021, 10:47 pm

Lootman wrote:
TedSwippet wrote:
Lootman wrote:The acquisition date I just leave blank.

Just a note here ... the CGT worksheet in HMRC's online self assessment not only offers just a single acquisition date field, but it also insists on there being a value present. The system will not proceed until you enter a date.

This forces you to either pick one of the many acquisition dates you have for a pool composed of shares from more than one purchase, or make something up. Poorly programmed.

I should clarify that I do not use the HMRC online system, and do not have an online account with them.

If I did and was forced to enter something then I guess I would just pick the original purchase date of the lots being sold. Or enter an approximate date if I had no idea what date that was! The tax return itself does accept blanks for the date.

The one time I had to do a tax return because of an unexpected capital gain, the online system says not to use the worksheets unless it is a simple single purchase and sale. As some of my gains/loses were multiple purchases and partial sales I didn't use the worksheets, couldn't get the system to accept a pdf (it was supposed to) and entered it in the additional info box by hand. I didn't include a purchase date and my return was accepted.


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