Does anyone know where this goes in the form 11 submission to the revenue. I dont recall seeing a section to indicate that you are claiming an annual exemption or is it an automatic procedure.
Steve,
If you are doing a paper return, include a sheet showing your calculations, making it obvious that you have included this allowance. and write in any excess over this figure in the box. This has worked for me.
Note also that if this is the FA CGT return then you only need to PAY by October 31st 2004 while you must file a RETURN by October 31st 2005.
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On the other hand it probably makes sense to pay AND file at once to get it out of the way and since you will probably be doing the sums anyway. Outlining the detailed calculations separately as per the previous post has also worked for me in the past.
If I am filling a joint application on form 11 ( husband and wife ) Can I apply for 2*1270 or is the exemption just relevant to the individual with the Capital gain ?
The annual CGT allowance is not transferrable even between spouses (it used to be years ago) so you can only use your wife's as well as your own if shares in her name or your joint names were disposed of (and in the latter case the gain and allowances may need to be apportioned on a pro-rata basis). Somebody else here said that previously capital losses could be transferred between spouses but I don't know if that's correct.