What is the SA108 form?

Unfortunately the SA108 is not the patent for the latest James Bond gadget from Q.

Sadly it's a form. Just a boring old form. One of many boring old HMRC forms.

If you have to pay tax on your capital gains, you will need to complete the SA108 form and submit it alongside your SA100 (your self employed tax return form). 

TAXO'D TOP TIP - Another benefit of filing your SA100 form online is you will not need to fill out the SA108 form. The SA108 is only applicable to those filing to HMRC, in paper format via the post.

Use the SA108 if you have sold any of the following for profit:

• Non-ISA shares
• Cryptocurrencies, tokens or assets (eg Bitcoin, Ethereum) 
• Valuable Items (eg Art, Jewellery and collectables)
• Non-ISA shares
• Any assets or property you sold for a profit.
  

Real-Time Capital Gains Tax Service

Real-Time Capital Gains Tax Service is not mandatory on all property sales. From April 2020, you only have 30 days to declare and pay CGT on property sales.

To find out more about the SA108 form (and indeed to download the SA108 form) you can visit the HMRC. 

Depending on your tax situation, often you’ll also need to submit additional forms:

• SA101 – usually for tax reliefs (SEIS, EIS, VCT, etc.)
• SA102 – for employment
• SA103 – for self-employment
• SA105 – for UK property
• SA106 – for foreign income
• and others 

If you need to fill out any of these additional forms just attach them to your SA100 form.

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Disclaimer: This is simply a guide and should not be treated as tax advice. Contact HMRC directly if you need tax advice.