Form 11- query re CGT

[meular]

In section 815 (b), I must complete an amount for the net gain to be charged at 25% - not sure re figure to include here because the amount of CGT which I actually paid last year was 1/10th of the 25% amount since I had lived in the property as my PPR for 8 years - my worry is if I insert the figure of 25% of the net gain, the revenue will not know why I paid a much lesser amount - do I explain in a cover letter? I would be very grateful if someone could please clarify? Many Thanks

 

[Domo]

You show the taxable amount, and if you wish you can include a calculation in the section for additional information. However, as it is self-assessment I would just show the amount, and then supply the relevant information to the Revenue if they open an enquiry into your tax return in due course.

 

[T McGibney]

Some (most??) Revenue districts routinely request that a CGT computation is submitted once they notice CGT entries on Form 11 returns. In my experience it is better to submit CGT computations separately to Revenue at the same time as Form 11 is submitted on ROS.

 

[meular]

Thank you both for your responses. I must look at it again this weekend. I have the computation and will possibly include that with the hard copy of the Form 11.