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The R40 Capital Gains Tax Return form is no longer an acceptable form to report capital gains. From 6th April 2011 HMRC will no longer accept this form, instead any capital gains will have to be reported on the SA108 schedules and completed together with the SA100 Tax Return instead of the R40 form.
This report has been removed from IRIS for the 2011 tax year onwards, prior years forms can still be produced for reference purposes, but must not be submitted to HMRC, as they will NOT be accepted.
Prior to 6th April 2011 the R40 Capital Gains Tax Return form was used where the Revenue had issued this form to the client because their total chargeable gains and/or proceeds in the year exceeded the annual exempt amount for the specified tax year.