Chargeable Gains
This section is designed to analyse chargeable gains and losses. The sheets in the
Chargeable gains
section are not automatically present in the calculation so you should first develop the Chargeable gains summary
sheet. The Capital losses
sheet is automatically inserted when the Chargeable gains summary
sheet is inserted. After the Chargeable gains summary
sheet is developed, you will be able to develop the following sheets to further analyse the company’s gains and losses:- Chargeable disposal
- Connected person
- Connected person losses
- Section 104 holding
- Chargeable gains/losses transferred in (s171A)
Completing the Sheets
You can import data for these sheets or enter the data manually.
Chargeable Gains Summary
This sheet summarises the information entered on the
Chargeable disposal
, Connected person
, Section 104 holding
and Section 171A transfers in
sheets and calculates the net chargeable gain or loss for the period. Gains and losses can also be entered manually on this sheet if no analysis is required. The gross chargeable gains and allowable losses will then be added to the Profits and gains computation
sheet.In the
Disposal post 31 March 2020
column, you can identify disposals that have been made before and after 1 April 2020 to ensure the offsets are correct following the introduction of the new Corporate capital loss restriction rules.Capital Losses
Losses arising in the period are summarised from the data in the
Chargeable gains summary
sheet. Current period losses and brought forward losses not offset in the period are carried forward to the next period. The sheet includes a section for losses that have arisen on disposals to a connected person from the Connected person losses
sheet. The Pre-entry losses included above section lets you manually keep track of any losses held by the company that arose before it was purchased.The
Straddle period analysis
section will analyse gains and losses for Corporate capital loss restriction purposes if the accounting period straddles 31 March and 1 April 2020.Chargeable Disposal
On this sheet, provide detailed information relating to the disposal of an asset, including grants and assignments of leases. The gain or loss on the disposal (before and after any rollover or holdover relief and including the SSE exemption) will be taken to the
Chargeable gains summary
sheet.Connected Person
This sheet is similar to the main summary sheet, which brings through the overall gain or loss position on disposals made to the same connected person. The sheet brings disposal details from the
Chargeable disposal
sheet where you select the gain as belonging to a connected person. The sheet also includes sections for connected party losses and pre-entry losses.The Straddle period analysis section will analyse gains and losses for Corporate capital loss restriction purposes if the accounting period straddles 31 March and 1 April 2020.
Connected Person Losses
This sheet summarises all the data regarding losses on disposals to connected persons from the
Connected person
sheet.Section 104 Holding
On this sheet, add rows to show movements in a section 104 holding in a single company for chargeable gains purposes. Any part or full disposal of a section 104 holding recorded on a
Chargeable disposal
sheet is reflected by inserting a new row on the Section 104 holding
sheet. A new sheet will need to be developed for each section 104 holding.Section 171A Transfers In
This sheet lets you record transfers into the company of chargeable gains and losses under Section 171A TCGA 1992 from other group companies.