Details
For more information, refer the HMRC's Business Asset Disposal Relief guidance.
| Field | Description |
|---|---|
| Address of property’ (only applicable when disposing of property) |
Required field. Select Change address to choose the property address. |
| Qualifies for Entrepreneurs’ relief’ (Tax Years prior to 2020/21) | Indicates if the disposal qualifies for Entrepreneurs Relief. |
| Qualifies for Investors’ relief? | Indicates if the disposal qualifies for Investors’ relief. This relief can only be claimed by Trustees of an Interest in Possession Trusts on disposals of Unlisted shares and securities. |
| Qualifies for Business Asset Disposal Relief | Replaces Entrepreneurs’ Relief from 2020/21. This relief can only be claimed by Trustees of Discretionary Trusts and Estates of Deceased persons on the disposal of Other assets’. Select if the disposal qualifies for Business Asset Disposals relief. |
| Estimate or valuation used? | Select if an estimate or valuation was used. |
| CG34 submitted? | Indicates if a valuation was used and a CG34 has been submitted to HMRC. Note that IRIS Elements does not produce a CG34. |
| Details of connected person | The name of any person connected to the disposal. |
| Tax charged on CGT return | From 2020/21 tax year, the amount of tax charged following the submission of a UK property disposals tax return 30 days following the disposal. |
| Foreign tax (for tax credit relief) | |
| Full description of asset | |
| Details of estimate or valuation (if CG34 was not submitted) |