How to enter a Negligible Value Claim

Step One - Entering the Capital Loss

  1. Open PTP Tax Platform and select the client.

  2. Click the Client Tax Returns tab, select the relevant Tax Return then click the View Tax Return option.

  3. Click the Fanned Pages icon within the Capital Gains Summary section.

  4. Either click View to access the existing data or click Add to enter new data.

  5. Click the Access to details option to open the Capital Gains screen:

 

  1. Click Add.

  2. Enter the asset description and select the type as U - Unquoted Shares. Enter the date of purchase and sale then enter the Cost and Proceeds.

  3. Select Unquoted loss against income and click Save.

 

 

Step Two - Setting the Capital Loss against Other Income

  1. Enter the amount of loss which can be offset against other income for the current year within box 41 on page CG2, or for he prior year in box 43 on page CG2.

  2. Select page 4 and enter a note within box 54 stating that the client’s shares became of negligible value and that this loss is therefore being offset against the other income.

  3. When closing out of the CGT pages a message box displays.

  4. Click OK and the Access to Details screen will open automatically.

  1. Click Close (provided there are no further changes to be made).

  2. Box 47, Losses available to be carried forward , will update to take account of the amount being offset in boxes 41 and 43.