CCH Personal Tax 2025.1 Service Pack: Release Notes

SA108  - Page – CG3 – Box Numbers – CGT50 and CGT50.

The maximum qualifying net gains which may benefit from Business Asset Disposals’ Relief is restricted to a lifetime limit of  £1 million. This applies to qualifying disposals made on or after 11 March 2020 and to certain disposals made before 11 March 2020. There is validation on boxes CGT50 and CGT50.1 from 2020-21 to ensure that no entry can be made in those boxes that is greater than £1m. In the scenario where the customer claimed remittance basis in a previous year and the gain is taxed when it is remitted, the LL that would be applicable is determined by the LL in the earlier year. These cases are expected to be very rare but if they occur then the customer will be faced with an error message upon making an entry of more than £1m.

Work around:

SA108  - Page – CG1 and CG2 – Box Numbers - CGT21, CGT29  and CGT37Updated to include Crypto Assets

Where the Real Time Transaction (RTT) service has been used to report and pay Capital Gains Tax on disposals of assets to be declared in any of the sections ‘Cryptoassets, Other property, assets and gains,’ ‘Listed shares and securities,’ or ‘Unlisted shares and securities,’ the gains or losses reported in the RTT boxes CGT13.7, CGT21, CGT29 or CGT37 should also be included within the total gains or losses boxes (CGT13.4 (CGT13.5 for losses), CGT17 (CGT19 for losses) CGT26 (CGT27 for losses) and CGT34 (CGT35 for losses) respectively). If the gains or losses have been overestimated their when using the RTT service and their actual gain or loss is less than what they need to enter in boxes CGT13.4, CGT13.5, CGT17, CGT19, CGT26, CGT27, CGT34 or CGT35 they may get a validation error. CGT13.7, CGT21, CGT29 or CGT37 cannot exceed

Workaround:

SA103S and SA103F  - Page – SES2/SEF3 – Box Numbers – FSE49/SSE23 when greater than £1.5m

Where a customer has an accounting period that exceeds 547 days and calculates their Annual Investment Allowance (AIA) from their plant or machinery investments made in the capital allowance chargeable periods covered by that accounting period, the AIA threshold (and allowable claim) may exceed £1,500,000. This affects self-employed customers where for 2023/34 the validation for boxes FSE49 and SSE23 is set at £1.5m. An entry above will result in a validation failure and the return would be blocked from successful online submission. A customer wishing to claim over £1.5m AIA can still do so and successfully file online by capping the entries at boxes FSE49 and SSE23 to £1.5m and then entering the remaining balance of the AIA amount at either box FSE55 or SSE25 as appropriate, for other capital allowances.

Workaround:

In these circumstances enter £1.5m in box FSE4/ SSE23  and the excess in box FSE55/SSE25 · A note should be included in the Additional Information box of the online return and advise that the workaround has been used.