C1.109 Chargeable gains compliance requirements in relation to disposals other than of UK land
For a gain or loss to be within the scope of tax on chargeable gains, there must be a chargeable disposal of a chargeable asset by a chargeable person. See C1.104, C1.103 and C1.102 respectively.
Individuals, trustees and personal representatives are subject to capital gains tax on chargeable gains. Companies are subject to corporation tax on chargeable gains. See C1.102.
This article discusses the compliance requirements for disposals of chargeable assets other than UK land, with the reporting of disposals of UK land covered in C1.110. For the computation of chargeable gains and losses, see C1.105. For the use of allowable losses, see C1.106. For the taxation of chargeable gains, see C1.107
Reporting requirements for disposals other than of UK land
Self assessment for corporation tax and capital gains tax
All persons should include a calculation of the chargeable gains and allowable losses with their self assessment tax return1.
If a tax return has not been required, or has been required but the requirement is subsequently withdrawn, a person who has tax to pay on gains for the tax year or accounting period (as appropriate) should give notice of chargeability to an HMRC officer2. See E1.210 (individuals and trustees) and D1.1301 (companies).
Capital gains tax—reporting limits
Chargeable individuals, trustees or personal representatives (see C1.102) who have made a chargeable disposal of a chargeable asset must file a self assessment return unless3:
• the chargeable gains for a tax year do