Self-Assessment Exclusions from online filing – exclusion 60

HMRC has considered the options for Exclusions 60 and they are endorsing the following workaround - where there is no overall gain or loss to enter in: 

  • both “Gains in the year, before losses” (box 6) and “Losses in the year” (box 7) on the Capital Gains section it is permissible for the software to support the entry‎ of £0.01 in “Losses in the year” (box 7)
  • both “Gains in the year, before losses” (box 17) and “Losses in the year” (box 19) on the Capital Gains section it is permissible for the software to support the entry‎ of £0.01 in “Losses in the year” (box 19)
  • both “Gains in the year, before losses” (box 26) and “Losses in the year” (box 27) on the Capital Gains section it is permissible for the software to support the entry‎ of £0.01 in “Losses in the year” (box 27)
  • both “Gains in the year, before losses” (box 34) and “Losses in the year” (box 35) on the Capital Gains section it is permissible for the software to support the entry‎ of £0.01 in “Losses in the year” (box 35)

If this workaround is followed no additional tax will be due as this figure will be regarded as zero in the tax calculation. Software developers have also been notified of this workaround.

A Talking Points session was recently held regarding other exclusions from online filing and the link to the recording will become available from this page.

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