PTP TR - Claiming Business Asset Disposal Relief (previously Entrepreneurs Relief)

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PTP TR - Claiming Business Asset Disposal Relief (previously Entrepreneurs Relief)

20th July 2011

Claiming Business Asset Disposal Relief

• Log onto PTP Tax Platform and select the client

• Select the Client Tax Returns tab click on the Tax Return then select View Tax Return

• Click the Fanned Pages icon within the Capital Gains Summary section:

• Either click View to access the existing capital gains information or click Add to enter new data into this section

• Click on the Access to Details option

• Enter the Asset description and select the Type from the drop down box

• Under Relief choose Bus. Asset Disp. Relief. Enter the percentage of gain for entrepreneurs relief at the bottom of the page. Alternatively tick the box Edit and enter the amount of gains qualifying for Entrepreneurs’ Relief. 

• Complete the rest of the asset details as required and click Save to continue.

The figure shown in box 50 on page CG3 is the amount of gain on which the relief is being claimed.  Please note that any gains on which ER is claimed are shown in the Other Property, assets and gains section in accordance with the guidance on the SA108 notes https://www.gov.uk/government/publications/self-assessment-capital-gains-summary-sa108.