Capital Gains Tax 08 - When you cannot use a worksheet
The worksheet is for simple calculations of gains or losses and can be used for the disposal of land or other assets. You can also use it for the disposal of shares but only if it is the disposal of the whole of your holding of a particular class of shares.
You will not be able to use the worksheet in all cases. For example:
- if the asset has been acquired by the exercise of an option or if the disposal is a part disposal
- where you've disposed of a number of individual assets, and the gains and losses on those assets are taken together for a Business Asset Disposal Relief (previously Entrepreneurs' Relief) claim
- the gain needs to be split into separate parts, for example a shop with a flat above, so the gain has a residential property part and a non-residential property part. You will need to enter these gains/losses separately
- if you have already submitted Real Time Transaction or Capital Gains Tax UK Property Disposal Returns. You must include details of these gains or losses and any tax paid or charged later in the capital gains section
You should also not use the worksheet if you have to pay Capital Gains Tax on gains made by a non-UK resident Trust or a non-UK resident company in which you have an interest, or on gains which arose in earlier years but became taxable in 2020 to 2021.
